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Eyes In The Sky: 35 Indian Drone Startups Looking For A Major Pie
Inc42
·
1y ago
Medial
India has the potential to become a global drone hub by 2030, according to Civil Aviation Minister Jyotiraditya Scindia. With the government's efforts to support the drone ecosystem, including new schemes such as Drone Didi, the participation of people across the industry is expected to grow. The Indian drone market is projected to reach $13 billion by 2030, growing at a CAGR of 21% between 2022 and 2030. The article also provides a list of 35 Indian drone startups and their offerings, ranging from end-to-end drone solutions to drone-as-a-service and drone manufacturing.
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IG Drones eyes aggressive defence foray
Livemint
·
1y ago
Medial
Drone technology company IG Drones is planning aggressive expansion in the drone manufacturing sector, with a focus on defence. The company is setting up a large-scale manufacturing plant in Vadodara, Gujarat, and aims to produce approximately 1,000 drones per year. The facility is expected to be launched in June and will initially operate at 30% capacity. IG Drones also intends to allocate 50% of its defence drone capacity for exports, with strong demand coming from Indian forces and Middle Eastern countries. The company is looking to raise around $5 million to support its technological advancements, including developing 6G drones.
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NPCI eyes a more evenly sliced UPI pie
Economic Times
·
1y ago
Medial
The National Payments Corporation of India (NPCI) is organizing a meeting with the executives of major payment apps to discuss strategies for increasing market share on the Unified Payments Interface (UPI). This move comes after the recent regulatory crackdown on Paytm Payments Bank, which could benefit market leaders PhonePe and Google Pay even more. Currently, these two platforms dominate over 80% of the UPI market, with Paytm trailing behind with less than 12%. The NPCI has been aiming to limit the market share of these platforms to 30% to promote competition and reduce concentration risks.
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Global PE investors eye bigger pie of India’s software services sector
Economic Times
·
1y ago
Medial
There is an increase in interest from global private equity firms in acquiring Indian IT and software services companies. This is due to a rise in growth capital investments in the IT sector by global PE funds. The number of PE firms holding majority stake in Indian IT services companies has doubled between 2019 and 2022. Inbound deals from global investors for Indian firms rose 35% in 2023, outpacing the previous year's growth rate. Indian IT firms are seen as valuable due to their growth performance and potential. The total value held by PE firms in the sector has quadrupled, reaching $55 billion today.
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Defense tech startup Zebu raises $1 Mn in pre-Series A round
Entrackr
·
3m ago
Medial
Defense-tech startup Zebu has raised $1 million in a pre-Series A financing round led by Bluehill VC. The proceeds will be used to accelerate four of its mission-critical drones from prototype to battlefield deployment, supporting India’s defense modernization and strengthening indigenous military capabilities, Zebu said in a press release. Launched in 2021 by Santosh Balajee Banisetty, Zebu is a defense-tech startup that develops mission-ready counter-drone systems for armed forces globally. The startup has introduced four products for the Indian armed forces, including a hostile drone-neutralizing IAF Net Drone with a six-cartridge system, a sea-surface combat and rescue drone for the Indian Coast Guard, a swarm-enabled offensive combat drone for the IAF, and a tethered surveillance drone for Army border patrols. According to market research, the global counter-drone market is expected to reach $11 billion by 2030. The Hyderabad-based company stated that the IAF Net Capture Drone—a sky sentinel capable of trapping hostile drones mid-air like a futuristic spiderweb—has evolved from a skeletal model to radar integration over the last six months and is now approaching military-grade certification milestones. It is also in advanced talks with a top defense manufacturer to supply its drones. Zebu is building an Anti-Drone Swarm System for the Air Force, featuring rapid-fire pneumatic launchers and set for operational readiness by late 2025. It is designed to overwhelm enemy drones with coordinated strikes. The Army’s 24x7 “Eye in the Sky,” the Tethered Surveillance Drone, could see mass deployment by mid-2025, offering uninterrupted border monitoring and already approved by multiple regiments. Beyond government contracts, Zebu is expanding into commercial markets by adapting its military-grade technology for enterprise use. It claims that its proprietary Ground Control Station (GCS) is attracting strong interest from private OEMs across India, the U.S., and Southeast Asia.
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Drone Startup Skye Air Mobility Bags 10 Govt Contracts For Medical Supply Delivery
Inc42
·
1y ago
Medial
Skye Air Mobility, a drone delivery startup founded in 2019, has secured contracts from 10 Indian government medical institutions. The contracts enable the institutes, including several AIIMS and regional leprosy centres, to utilize drones for efficient delivery of essential medical supplies in temperature-controlled boxes. The deployment is expected to be completed in the coming weeks. Skye Air plans to expand its fleet size from 35 to 100 drones within the next six months. The Indian drone market is projected to reach $13 billion by 2030.
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30 Startups To Watch: Startups That Caught Our Eyes In June 2024
Inc42
·
1y ago
Medial
In June 2024, the Indian startup ecosystem saw a boost in funding levels with Zepto raising $665 million. The latest edition of "30 Startups To Watch" showcases over 75% of the featured startups coming from major hubs like Bengaluru, Mumbai, and Delhi NCR. As the first half of 2024 wraps up, there is ongoing interest in the exciting ventures emerging in India's startup ecosystem.
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MapmyIndia Eyes Expansion Of Products Beyond India, Targets SEA And MENA
Inc42
·
1y ago
Medial
The company is looking to expand its products and platforms beyond India, focusing on Southeast Asia and the Middle East & North Africa. They are also planning to increase their participation in the ONDC ecosystem. In the March quarter of FY24, the company's consolidated profit after tax increased by 35% compared to the same period last year.
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ideaForge Eyes Exports To US, Canada To Shore Up Revenue
Inc42
·
1y ago
Medial
Indian drone manufacturer ideaForge is focusing on expanding its exports to North America and other key regions, according to its annual report. The company aims to establish a presence in the North American market, which it has identified as its next frontier for investment and growth. Currently, ideaForge operates in India, Bhutan, Nigeria, and the US.
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SoftBank to hit restart button on India investments after 18-month hiatus
Inc42
·
1y ago
Medial
Japanese investment major SoftBank is reportedly planning to resume investing in Indian startups after an 18-month funding drought. SoftBank will be signing deals with Indian startups in the near future, according to Sumer Juneja, head of India and EMEA at SoftBank Investment Advisers. The company had adopted a wait-and-watch approach but is now actively looking to invest in new-age companies and strengthen its presence in the Indian market. SoftBank has previously invested $15 billion in India and has funded nearly a fifth of the country's unicorns.
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Circle Upsizes US IPO to 32 Million Shares, Targets $7.2 Billion Valuation; BlackRock Eyes 10% Stake | DeepNewz Stocks
Business Bytes
·
2m ago
Medial
Circle is targeting a $7.2 billion valuation by upsizing its US IPO to 32 million shares. Despite similar net incomes, comparisons with $MKR/SKY highlight the latter's more attractive financial incentives, including substantial daily buybacks and dividends. This contrasts with Circle's lack of these financial benefits, suggesting potential market reevaluation opportunities for $MKR/SKY based on their income distribution strategies.
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