Drone Maker InsideFPV Raises Rs 2.75 Crores In Seed Funding
InsideFPV, a Surat-based drone manufacturer, has raised $333,505 (Rs 2.75 crore) in a seed funding round from Inflection Point Ventures.
As per the startup, the freshly raised funds will be used for product development, research and marketing.
InsideFPV | Plug And Fly FPV Drones
Founded by Arth Chowdhary and Deyvant Bhardwaj in 2020, InsideFPV provides Plug and Fly FPV drones where customers just have to plug the battery into the drone and fly it. Their drone pricing starts from INR 2800 onwards, catering to different use cases.
Recognised by the Government of India as a startup under the Robotics Industry by Startup India and featured in Shark Tank India, the drone maker targets to penetrate the consumer drone space, agricultural and defence space in the coming quarters. Recently, InsideFPV drones have been procured by the Indian Army as well.
Speaking about the development, Deyvant Bhardwaj, Co-founder of InsideFPV, said,
“In the consumer sector, we aim to provide drones that bring convenience to people’s lives. We are the first firm in India to offer plug-and-fly first-person view (FPV) drones. We have also created drones with enhanced sensors and imaging capabilities for agricultural and military uses.”
Commenting on the development, Rahul Wagh, Managing Director, Inflection Point Ventures, highlighted that drone usage in India is fast increasing with higher adoption through wider use cases across different industries.
As per Rahul, with the drone industry already attracting private investments, India is set to become a global drone hub by 2030. This boom is supported by favourable Government initiatives such as a strong Make in India push, PLI schemes for drone manufacturing, a ban on the import of drones, and the opening of airspace by adding new green zones for drones, amongst others.
Rahul Wagh added,
“While drones are majorly used in the commercial, military and agricultural applications, they are an expensive device to own. InsideFPV, with its innovative technology, aims to bridge this gap by offering one of its kind Plug and Fly FPV (First Person View) feature-rich drones to the consumers at an affordable price point. We at IPV have always been in the forefront to support such innovative companies and look forward to extending our strategic guidance to scale the business.”
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