Aereo, a drone-based business intelligence provider, has successfully raised $15 million in its Series B funding round led by 360 ONE Asset. The round saw participation from long-standing investors StartupXseed Ventures and Navam Capital.
The fresh funds will be used to expand its aerial intelligence solutions for capital asset management with a focus on automation.
This latest investment follows a previous funding round where Aereo raised $6.44 million at a post-money valuation of $25.5 million, with contributions from GrowX Ventures, StartupXseed Ventures, Anicut Capital, and other investors.
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.”
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.”
Founded in 2013 by Vipul Singh and Suhas Banshiwala at IIT Kanpur, Aereo (formerly Aarav Unmanned Systems) is a drone-based business intelligence provider, serving industries such as mining, infrastructure, urban and rural development, land records, and more.
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.
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).
