Okulo Aerospace, a drone technology company, has raised $1 million in a pre-seed round led by Ideaspring Capital, with help from Java Capital, Coimbatore Innovation and Business Incubator (Forge Innovation & Ventures), and a group of Rockfort Ventures angel investors.
According to a press release from Okulo Aerospace, the money will be used for product development, team growth, and gaining early traction with customers through targeted marketing and sales initiatives.
Okulo Aerospace, a company founded in 2019 by Parithi Govindaraju, offers complete aerial monitoring solutions that let businesses collect data and draw useful conclusions. Long-range unmanned aerial vehicles with high-performance sensors and an AI platform for advanced analytics are some of its solutions.
The ability to optimize operations, improve situational awareness, and support essential defense operations, claims Okulo Aerospace, has the potential to revolutionize a number of industries.
With its UAV, the Bengaluru-based startup claims to have achieved a flight time of more than 6 hours, making it the longest in its class.
Enercomp, based in Ahmedabad, raised 2.6 crores in May 2023 with the help of Bestvantage, Ah! Venture, and Soonicorn Ventures. In addition to others, Okulo Aerospace is in direct or indirect competition with ideaForge, Dhaksha, MS Dhoni-backed Garuda, Skyroot Aerospace, and Bellatrix Aerospace.