Commercial drone solutions startup Aereo has secured $15 million in a Series B funding round led by 360 ONE Asset. Existing investors StartupXseed Ventures and Navam Capital also participated in the round.
Previously, Aereo raised $6.44 million at a post-money valuation of $25.5 million from GrowX Ventures, StartupXseed Ventures, Anicut Capital, and others. The new funds will be used to expand its aerial intelligence solutions for capital asset management, Aereo announced in a press release.
Co-founded in 2013 by Vipul Singh and Suhas Banshiwala, Aereo operates in the B2B sector, serving high-tech, aerospace, maritime, and defense tech markets. The company has been a partner in Coal India Limited’s Digicoal initiative, providing critical business intelligence to improve productivity at some of the world’s largest coal mines. Since 2019, Aereo has collaborated with Tata Steel, aiding the digitalization of over 27 critical mines and stockyards.
Based in Bengaluru, Aereo claims to have mapped over 45,000 villages under the SVAMITVA scheme and covered more than 50,000 sq. km of land for the Digital India Land Record Modernization Program (DILRMP).
Other notable players in this space include Skylark Drones, IdeaForge, Garuda Aerospace, DroneAcharya Aerial, and Dhaksha Unmanned Systems.
Ravi Thakur, Co-Founding Partner at StartupXseed, praised Aereo for its excellent solutions and its contribution to advancing the drone industry. StartupXseed is excited to continue supporting Aereo during its next significant growth phase.
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