In an investment round led by 360 ONE Asset, Aereo closed
its Series B funding, announcing plans for global expansion
BENGALURU, India, July 19, 2024 /PRNewswire/ -- Aereo, India's leading drone-based business
intelligence provider, has successfully closed a $15 million Series B funding round led by 360 ONE
Asset. The round saw participation from long-standing
investors StartupXseed Ventures and Navam Capital.
Aereo delivers business intelligence solutions to help manage
large capital assets using proprietary drones and an AI-powered
data analytics platform. Their sector-specific solutions cater to
mining, infrastructure, urban and rural development, land records,
and other industries translating into a 400% revenue growth in the
last two years and market dominance.
Vipul Singh, co-founder and CEO
of Aereo, stated, "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, stated, "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."
Aereo has been recognized by the Asian Infrastructure Investment
Bank (AIIB) as one of the top three infra-tech organizations. As a
technology partner for Coal India Limited's Digicoal initiative,
Aereo provides critical business intelligence for some of the
world's largest coal mines for improving productivity, efficiency,
safety, and environmental compliance. It has also been empanelled
with Tata Steel since 2019,
aiding the digitalisation of over 27 critical mines and stockyards.
Over the past three years, Aereo has achieved significant
milestones, including mapping over 45,000 villages under the
SVAMITVA scheme and covering more than 50,000 sq. km of land area
for the Digital India Land Record Modernization Program
(DILRMP).
The Series B investment serves as a powerful catalyst for
Aereo's growth, with a key focus on automation. Their AI-powered
drone data analytics platform is set to revolutionise automation
and digitisation. With strategic partnerships, R&D, and new
product development, Aereo is ready to lead the global drone
solutions sector.
Karan Ahuja, Fund Manager at 360
ONE, remarked, "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."
Ravi Thakur, Co-Founding Partner
at StartupXseed, added, "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."
About Aereo:
Founded in 2013 at IIT Kanpur, Aereo (formerly Aarav Unmanned
Systems) is India's premier
drone-based business intelligence provider, serving industries such
as mining, infrastructure, urban and rural development, land
records, and more. Aereo is backed by notable early-stage deep tech
investors like Auxano Capital, KARSEMVEN, 3one4 Capital, GrowX
Ventures, 500 Startups, and Ashok
Atluri (MD of Zen Technologies).
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SOURCE Aereo