An industry that has generated tremendous excitement and potential in the recent years is the unmanned aerial vehicles (UAV)/drones industry.
A company we have invested in is designing commercial scale drones and providing other high-value engineering solutions geared towards the GIS Surveying/Mapping, Industrial Inspection, and Precision Agriculture fields. The firm incubated from IIT Kanpur’s incubation centre is led by graduates from IIT Kanpur, IIT Bombay, IISc Bangalore & IIST. The firm is developing world class technology with special efforts on artificial intelligence provided by drones, hardware optimization & design innovation. Their drones are TenX faster and generate MillionX richer data than their competitors, which is powerful for businesses to capture deep and insightful analytics in order to make well informed decisions.
This company was identified when it had only its first prototype upon their incubation from IIT. Capital was infused rejuvenating the startup to further its product development efforts. Technology experts were assigned to the company to aid in these efforts. Assistance was provided in the form of patent attorneys in identifying potential IP opportunities within the market. Business mentors strategized with the company leaders in narrowing down target applications for this large industry. Finally, the company was given access to investors and VCs for further financing and investment opportunities.
The company has accelerated from the initial prototype stage to developing a whole fleet of products that are already being used by market participants. They have developed more focus with their strategy by targeting specific applications in the dynamic and competitive environment of drone technologies. They are currently looking to expand its team and further improve the design and features of the product. They have recently graduated to raise their pre-series A funding and are looking to make an impact in the global market as well.