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Drone Startup Asteria Aerospace Raises Funds From Boundary holdings

Nowadays technology is revolving and so the industry, in this world of drones, there are lots of startups which is making their pace in the Artificial Intelligence, Aerospace, Machine learning etc.

In India, drone startups are also increasing, and recently Asteria Aerospace which is a Bangalore based, Artificial Intelligence powered and drone startup have secured an undisclosed amount of funding from the Venture Capitalist firm Boundary holdings, which is a Luxembourg based company.

The funding comes as a part of the event that is ‘FutureTech’ that was hosted and organized in partnership with the ‘NITI Ayog’ and ‘British High Commission’ to make investments in the Indian tech ecosystem.

About Asteria Aerospace

The startup which is founded by the Neel Mehta and Nihar Vartak in the year 2011. Asteria uses the latest Artificial Intelligence and Robotics technology to develop the drone which helps to provide the correct and actionable intelligence from the aerial data. The company provides its services to various sectors across the industry like the mining, agriculture, gas, and manufacturing uses.

A new drone which is called as ‘A400’ is developed to make a flight ready in just 2 minutes of time, which makes it a suitable for the purpose of security and surveillance where rapid development is a much more need.

Just few days back, Asteria also launched an Internet of Things platform for the drones which is known by the name as ‘Genesis’. Genesis is a secured platform which enables the enterprises to use and easily manage the fleets of drones in the security & surveillance operations.

Speaking on investment in Asteria, Rajat Khare said, “With this investment, we seek to expand Boundary Holding’s portfolio in AI and create a real scope of development in Drones and Artificial Intelligence. We believe the investment in Asteria Aerospace will bear fruitful results for the growth of Boundary Holding and Asteria. We have great trust in their team, and are glad to support the company.”

Written by Udit Agarwal

Startup/Tech News Correspondent, Responsible for gathering information on the tech companies working on IOT, AI, ML, Cloud, Mobile Technologies,

Udit can be reached at [email protected]

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