360 ONE Asset is leading a $15 million Series B funding round for Aereo, a startup providing commercial drone solutions. Its current investors, StartupXseed Ventures and Navam Capital, also took part in the round.
GrowX Ventures, Startupxseed Ventures, Anicut Capital, and other investors had previously contributed $6.44 million to the company at a post-money valuation of $25.5 million.
As stated in a press release, Aereo plans to use the additional funding to grow its aerial intelligence solutions for capital asset management.
Vipul Singh and Suhas Banshiwala co-founded Aereo in 2013 to provide B2B services in the high tech, aerospace, maritime, and defense tech industries.
Aereo claims that in order to help some of the biggest coal mines in the world increase productivity, it has partnered with Coal India Limited on its Digicoal initiative and provides vital business intelligence. Since 2019, it has additionally worked with Tata Steel to support the digitalization of over 27 important stockyards and mines.
The company, headquartered in Bengaluru, asserts that it has completed the mapping of more than 45,000 villages under the SVAMITVA scheme and has covered over 50,000 square kilometers of land for the Digital India Land Record Modernization Program (DILRMP).
Skylark Drones, IdeaForge, Garuda Aerospace, DroneAcharya Aerial, Dhaksha Unmanned Systems, and other prominent players are also involved in this field.
