July 21, 2024: Aereo, an integrated drone solutions provider has revealed its $15 million Series B funding round led by 360 ONE Asset will help expand its aerial intelligence solutions offerings.
Aereo delivers business intelligence solutions which claims to hold 15 patents helps manage large capital assets using proprietary drones and an AI-powered data analytics platform. Their sector-specific solutions is targeted to mining, infrastructure, urban and rural development, land records, and other industries transforming into a 400% revenue growth in the last two years and market dominance.
Aereo to develop aerial intelligence solutions for capital asset management
“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,” Vipul Singh, co-founder and CEO of Aereo, said.
“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.” Suhas Banshiwala, co-founder and CTO of Aereo, said.
Aereo over the last 3 years has mapped over 45,000 villages under the SVAMITVA scheme and bringing more than 50,000 square kilometres of land area for the Digital India Land Record Modernization Program (DILRMP).
Karan Ahuja, Fund Manager at 360 ONE, stated, “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, said, “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.”
Aereo is ranked by the Asian Infrastructure Investment Bank (AIIB) as one of the top three infra-tech organizations. As a technology partner for Coal India Limited’s Digicoal initiative, Aereo provides critical business intelligence for some of the world’s largest coal mines for improving productivity, efficiency, safety, and environmental compliance. The firm is empanelled with Tata Steel since 2019, aiding the digitalisation of over 27 critical mines and stockyards.
The round saw participation from long-standing investors StartupXseed Ventures and Navam Capital.
