Aereo, a notable drone technology startup based in Bengaluru, last month secured $15 million in funding through a Series B round led by 360 ONE Asset, with additional support from existing investors StartupXseed Ventures, and Navam Capital.
“We’re thrilled with the momentum in the commercial drone tech sector in India. Our partnership with Aereo reflects our belief in their cutting-edge innovations, and we’re excited for their solutions to go global,” stated Karan Ahuja, Fund Manager at 360 ONE.
“Aereo has been a trailblazer from the start, delivering exceptional solutions and building the drone ecosystem. We’re excited to support them in their next major growth phase.” said Ravi Thakur, Co-Founding Partner at StartupXseed
Aereo, founded in 2013 by Suhas Banshiwala and Vipul Singh at IIT Kanpur, offers cutting-edge business intelligence solutions for managing large capital assets. Leveraging proprietary drones and AI-powered data analytics, Aereo provides sector-specific solutions for industries such as mining, infrastructure, urban and rural development, and land records. This expertise has resulted in a remarkable 400% revenue growth over the past two years, solidifying Aereo’s market leadership.
As a trusted technology partner, Aereo has collaborated with Coal India Limited’s Digicoal initiative, enhancing productivity, efficiency, safety, and environmental compliance in some of the world’s largest coal mines.
Since 2019, Aereo has also partnered with Tata Steel, successfully digitalizing over 27 critical mines and stockyards. Furthermore, Aereo has made significant contributions to the Digital India Land Record Modernization Program (DILRMP), mapping over 45,000 villages and covering more than 50,000 square kilometers of land.
Speaking of the development, Vipul Singh, co-founder and CEO of Aereo, shared,
“This funding milestone enables us to expand our aerial intelligence solutions for capital asset management. With our proprietary drone tech and 360 ONE Asset’s partnership, we aim to revolutionize this $10 billion industry and create a global footprint.”
Suhas Banshiwala, co-founder and CTO of Aereo, expressed,
“Our vision is to continuously innovate drone manufacturing and data analytics for the greater good. We are excited about the confidence our customers and shareholders have shown and are gearing up for an orbital shift.”
