Aereo, India's leading commercial drone solutions startup, secures $15 million in Series B funding round

Bengaluru: Aereo, the top provider of drone-based business intelligence in India, has effectively completed a $15 million Series B funding round with 360 ONE Asset as the leading investor. The circular saw attracted investment from established investors StartupXseed Ventures and Navam Capital.

Aereo utilizes its own drones and a data analytics platform powered by artificial intelligence to provide business intelligence solutions for the management of major capital assets. Their specialized solutions for various industries like mining, infrastructure, urban and rural development, land records, and others have led to a 400 pc increase in revenue over the past two years, establishing dominance in the market.

Vipul Singh, one of the co-founders and the CEO of Aereo, announced, "With this funding achievement, we can enhance our aerial intelligence services for managing capital assets. Through the utilization of our unique drone technology and collaboration with 360 ONE Asset, our goal is to transform and make a strong impact in this $10 billion industry worldwide.

Suhas Banshiwala, one of the founders and Chief Technical Officer of Aereo, expressed that their goal is to constantly innovate in drone production and data analysis for the betterment of society. We are thrilled by the trust displayed by our customers and shareholders and are preparing for a significant change in orbit.

Aereo was acknowledged by the Asian Infrastructure Investment Bank (AIIB) as one of the leading infra-tech companies. Aereo works as a technology partner for Coal India Limited's Digicoal program, offering essential business intelligence to enhance productivity, efficiency, safety, and environmental compliance in some of the biggest coal mines globally. It was included in Tata Steel's panel in 2019, helping to digitalize more than 27 important mines and stockyards. During the last three years, Aereo has reached important goals, such as surveying more than 45,000 villages through the SVAMITVA scheme and encompassing over 50,000 sq. km for the DILRMP initiative of Digital India.