IG Drones, a drone tech and AI company has successfully closed its seed funding round, securing $1 million at an undisclosed valuation. The first funding round was led by India Accelerator and angel investors.
The funds raised will be used to advance research and development, focusing on creating state-of-the-art drone solutions tailored for defense applications. The company plans to collaborate with international companies specializing in the defense and aerospace sectors.
It also plans to raise an additional $3 million over the next six months to further expand its operations in India and globally.
IG Drones has expanded its footprint globally and collaborated with leading companies like Igis and has a presence in five countries and plans for further expansion.
Commenting on the development, Ashish Bhatia, Founder & CEO at India Accelerator, remarked, “IG Drones is innovatively pushing the boundaries of aerial technology and redefining the future of industries. Its advanced tech-based solutions are not only transforming operations across sectors but also driving efficiency and scalability in truly remarkable ways. We look forward to supporting their journey as they take flight and lead the charge in this rapidly evolving space.”
Bodhisattwa Sanghapriya, Founder & CEO of IG Drones, said, “Our focus remains on innovation and R&D, talent acquisition, and global expansion. We are poised for exponential growth this year, solidifying our position as leaders in Drone Tech and AI. This first round of funding will provide the necessary boost for the brand’s advanced R&D in drone technology. It will also bolster our efforts to foster the drone tech landscape in India, in line with the government’s vision to promote cutting-edge technology. By leveraging advanced Drone Tech and AI, we can assist multiple industries like never before through predictive analytics.”
Founders of IG Drones Bodhisattwa Sanghapriya and Om Prakash started their journey by launching Asia’s first student rocketry mission during their engineering days at Odisha’s oldest technical university, VSSUT which was appreciated by Prime Minister Shri Narendra Modi and was taken over by ISRO.
IG Drones specializes in drone manufacturing and R&D and provides services like surveying, mapping, and inspection. With a solid track record of partnering with the Indian Army, multiple state governments, and 100+ large enterprises, IG Drones has executed over 500 projects, cementing its reputation as an industry leader.
The company’s flagship product, the AI-powered Jaga drone, which is the first AI on edge Drone has garnered acclaim for its cutting-edge technology and precision performance, exemplifying IG Drones’ commitment to innovation and excellence. The drone-tech company has built India’s first 5G drone and has been working with the defense sector as well as other leading companies. IG Drones’ Kisaan is revolutionizing the agricultural sectors by supporting farmers with cutting-edge solutions.
IG Drones has established the Drone Centre of Excellence (CoE) to educate and empower India’s youth in drone technology and has signed an MOU with institutes like IIT Bhubaneswar and IIM Sambalpur. IG Drones is an NSDC Prime Partner and has trained 50,000+ youth across the country.
The global drone market is projected to reach a staggering $51.4 billion by CY27, highlighting the substantial growth potential in the sector.
India’s drone market is poised for exponential growth, with projections indicating it will reach nearly ₹2.5 trillion by 2030. This is a remarkable leap from its size of just ₹29 billion in 2020, reflecting the rapid expansion of the industry over the past decade. Notably, the defense sector emerges as the primary contributor to this growth, underscoring its pivotal role in driving the evolution of the drone market in India.
