Dronetech startup UrbanMatrix raised Rs 6 Cr Pre-series A funding from IPV

Under the leadership of Inflection Point Ventures, the drone technology startup UrbanMatrix Technologies has raised Rs 6 crore in a pre-series A round.

The money will go toward developing new products, growing the team, and entering new markets, according to a press release from UrbanMatrix.

Ashutosh Kumar, Divyanshu Pundir, Ajay Karthik, and Rishabh Verma founded UrbanMatrix in 2019. The company produces industrial drones and software for a range of applications, such as defense, survey, surveillance, agriculture, and AI-assisted inspection.

UrbanMatrix has a dedicated manufacturing area and operates in a 3,000 square foot commercial space. For data security, the company provides cloud integration and quantum encryption technology, ensuring dependability and user-friendliness for customers in various sectors.

The company is in collaboration with ATV, ISRO, and Paras Aerospace. It has patents for innovations like NextCC and original drone designs, and it has certifications like the DGCA’s Type Certification for its cutting-edge 4G/5G-enabled drone, UMT Hawk4G.

Wednesday saw the $3 million bridge round led by Venture Catalysts and WeFounderCircle for drone startup Garuda Aerospace.