JSW Ventures Leads Additional USD 1.8 Mn Investment in Aereo's Series B Round The newly raised capital will help Aereo further solidify its position as a leader in commercial drone solutions, focusing on expanding its presence in international markets.
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Aereo, a Bengaluru-based aerial intelligence platform, has secured an additional USD 1.8 million as part of its ongoing Series B funding round led by JSW Ventures.
This follows the USD 15 million it raised earlier in July, spearheaded by 360 ONE Asset, with participation from existing investors StartupXseed Ventures and Navam Capital.
The newly raised capital will help Aereo further solidify its position as a leader in commercial drone solutions, focusing on expanding its presence in international markets.
According to the company, these funds will accelerate its growth while driving innovations in drone technology.
Vipul Singh, Co-founder and CEO of Aereo, said, "We are thrilled to welcome JSW Ventures as a partner in our growth journey through this Series B round. Their trust and support are a strong testament to our innovative approach and our mission to transform asset management through drone technology. With JSW Ventures' expertise and shared vision, we are poised to scale new heights and expand our reach globally."
Founded in 2013 by Vipul Singh and Suhas Banshiwala, Aereo leverages cutting-edge drone technology and AI-powered data analytics to offer enhanced asset management solutions.
The company specialises in various sectors, including mining, infrastructure, urban development, and land records. Among its key offerings are inventory assessments, quality inspections, and land record digitization.
Aereo's project portfolio includes mapping over 45,000 villages under the SVAMITVA scheme and covering more than 50,000 square kilometers for the Digital India Land Record Modernization Program (DILRMP). The company has also achieved profitability at the EBITDA level.
Aereo's intellectual property portfolio is robust, with 15 patents filed, encompassing advancements in drone hardware, design, and predictive flight planning technologies.
The company faces competition from other key players in the DroneTech space, such as Skylark Drones, IdeaForge, and Garuda Aerospace.
Sachin Tagra, Managing Partner at JSW Ventures, said, "The DroneTech space has experienced tremendous growth in recent years, driven by government initiatives such as the Drone Regulations of 2021 and rapid technological advancements. We believe that Aereo is at the forefront of this transformation."
