Drone Startup Raises $3 Million in Pre-Series A Funding

- Advertisement -

The startup will use the funds to spur international product expansion and development of its drone data analytics products

Skylark Drones, a drone platform startup has raised USD $3 million in a pre-series A funding round. The startup noted that it is looking to strengthen its product offerings and fuel international expansion using the funds.

“Our vision is to unlock the economic potential of aerial intelligence.” said Mughilan Thiru Ramasamy, CEO & co-founder of Skylark Drones.

- Advertisement -

He added ,“We thank the lead investors of this round and believe the participation of Fowler Westrup, a leading agriculture solution company, and Vimson Group mining conglomerate will help further strengthen the sector focussed solutions we offer our customers. ”

The funding round was co-led by investors InfoEdge Ventures and IAN Fund with participation from AdvantEdge Founders, Fowler Westrup, Redstart Labs, IKP and Vimson group. This follows the company’s previous seed funding round, which took place in 2018.

The company will primarily use the new funding to enhance the actionable insights from drone data that it provides, in order to aid and simplify superior business decisions and strategy for its clients. The investment will also be used to spur international product expansion and development of its drone data analytics products.

Amit Behl, Partner at Info Edge Venture Fund said, “Aerial intelligence is a theme that has immense potential as it provides significant cost, time and accuracy benefits for large infrastructure companies which face frequent cost and time overruns. Skylark has built an indigenous platform that facilitates quick mobilization of independent drone pilots, enabling them to run drone missions to gather aerial images of large worksites. Skylark’s computer vision software analyses this aerial imagery to offer industry specific insights for its mining, solar and construction clients. Being amongst a limited set of players who have a full-stack offering, we believe that the opportunity for the company is global.”

Further adding, Rajnish Kapur, Managing Partner at IAN Fund said, “The global drone software market size is projected to reach USD 9,961.6 million by 2027, growing at a CAGR of 25.05%between 2020 and 2027. With the rising adoption of advanced technologies such as AI and ML, Skylark Drones’ solutions can unlock potential while increasing productivity and ensuring safety of work-sites. What impressed us most was a strong and unique business model – one that is easily scalable in India and beyond. We are delighted to make this contribution and hope the company marks its presence globally.”

“Drones are becoming the norm for remote worksite monitoring & inspections, and we have seen rapid adoption from marquee enterprises like Tata Steel, Ultratech Cement, Softbank Energy over the past few years. We look forward to serving more enterprises in the next leg of our growth story.”, said Mrinal Pai, co-founder of Skylark Drones. Since its founding in 2015, Skylark Drones has pioneered a variety of technological advances for the drone software industry. The company leverages drone data and transforms petabytes of aerial information into actionable business insights for clients to help them work more efficiently.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Global EV Market Witnesses Decent Growth in 2022; China Grabs Over Half of the...

0
As the third largest market, US witnessed a 72% growth in EV sales from 2021, and EVs accounted for 7% of new vehicles sold...

Taking Electronics Manufacturing Capability to Rs 24 Lakh Crore by 2025-26 is the Target:...

0
At the ‘New India for Young India’ session, Union minister Rajeev Chandrasekhar said that over 15 lakh youth will be trained in 'Future Ready'...

Interlink Electronics Acquires Calman Tech For $5 M

0
As per Interlink, Calman has decades of experience in membrane switches and printed electronics as well as an accomplished engineering and product development team Interlink...

Exclusive

Global EV Market Witnesses Decent Growth in 2022; China Grabs Over Half of the...

0
As the third largest market, US witnessed a 72% growth in EV sales from 2021, and EVs accounted for 7% of new vehicles sold...

Interlink Electronics Acquires Calman Tech For $5 M

0
As per Interlink, Calman has decades of experience in membrane switches and printed electronics as well as an accomplished engineering and product development team Interlink...

2022: India Smart Home Security Camera Shipments Saw 44% Growth; Xiaomi Tops

0
While Xiaomi stood first in terms of shipments with a 33% share, Tapo witnessed a whopping growth and stood next with a 17% share Q4...

Important Sectors

Global EV Market Witnesses Decent Growth in 2022; China Grabs Over Half of the...

0
As the third largest market, US witnessed a 72% growth in EV sales from 2021, and EVs accounted for 7% of new vehicles sold...

Continental and Infineon Partner to Build High-Performing Vehicle Architecture

0
Continental has started using Infineon's AURIX TC4 microcontroller for its ZCU platform In a recent update, leading tech company Continental announced that it will be...

2022: India Smart Home Security Camera Shipments Saw 44% Growth; Xiaomi Tops

0
While Xiaomi stood first in terms of shipments with a 33% share, Tapo witnessed a whopping growth and stood next with a 17% share Q4...

Hexagon, Altium Partner For Sustainability In The Electronics Industry

0
The partners are working on cloud-based digital reality solutions to contribute to a more environmentally sustainable design and manufacturing of electronics The developments are...

Mouser Electronics To Host 4th IoT Technical Roadshow Series for 2023

0
The five-city conference will cover topics such as digital twin, powertrain, ADAS, wireless technology, 6G, Industry 4.0, vehicle electrification, connectivity, HMI and smart manufacturing Leading...

Manufacturing

Foxconn Bags AirPod Order, Will Manufacture In Telangana

0
Foxconn will reportedly invest more than $200 million in the new AirPod plant in Telangana and will start manufacturing in the second half of...

Hexagon, Altium Partner For Sustainability In The Electronics Industry

0
The partners are working on cloud-based digital reality solutions to contribute to a more environmentally sustainable design and manufacturing of electronics The developments are...

India, Lithuania Seal Deal To Work In Chip Manufacturing, Deep-Tech Start-ups

0
Lithuania assured that it has robust know-how and capacities in life sciences, biotechnology and other STEM areas and is keen to cooperate on high...

AICTE Launches Curriculum For Technical Courses In Chip Making, VLSI Design

0
These programs, devised for the design and manufacturing of semiconductors, aim to provide newer employment roles and salary incentives for students These courses...

TSMC To Build Second Foundry In Japan : Reports

0
TSMC is already constructing its first foundry in a joint venture with Sony, in Japan Japanese chip-making equipment manufacturers in Japan continue to...