Drone-based business intelligence provider Aereo has successfully secured funding of USD 15 million in Series B round led by 360 ONE Asset. The other notable investors were StartupXseed Ventures and Navam Capital.
Aereo is known for its cutting-edge drone technology and offers business intelligence solutions for managing large capital assets. Its drones are equipped with an AI-powered data analytics platform catering to various sectors such as mining, infrastructure, urban and rural development, and land records. Its versatile approach has led to a revenue growth of 400% over the period of past two years.
Aereo CEO and co-founder emphasized transformative potential of the fresh capital. It will help them in expanding the aerial intelligence solutions for capital asset management. Their proprietary drone tech along with 360 ONE Asset’s partnership are to revolutionize the $10 billion industry and simultaneously create a global footprint.
Aereo co-founder and CTO Suhas Banshiwala highlighted their commitment to innovation. He said that their vision is to continuously innovate drone manufacturing and data analytics. They are excited about the confidence of their customers as well as shareholders who have interest in their products.
The reputation of Aereo is not limited to just India. The startup is recognized by the Asian Infrastructure Investment Bank (AIIB). It is known as one of the top three infra-tech organizations. Its technology is important to several initiatives such as the Digicoal of Coal India Limited. It is currently providing critical business intelligence to some of the largest coal mines in the world. Its solutions enhance productivity, efficiency, safety as well as environmental compliance.
The startup collaborated with Tata Steel in 2019 and since then it has digitalized more than 27 critical mines and stockyards. Moreover, it has mapped more than 45,000 villages under the SVAMITVA scheme and covered more than 50,000 sq. km of land for the Digital India Land Record Modernisation Program (DILRMP).
