Mumbai Based Drone Startup Droni Tech raises Rs.3.5crore in Seed Funding

A Mumbai-based startup, Droni Tech that presents drone hardware has raised Rs 3.54 crore ($500,000)  in its initial stage of seed funding. The funding mainly came from Eagle Group and Angel investors.

The funding comes just days after the declaration norms of the central government to verify that the drones don’t create a security threat. The regulations had become effective in December 2018. Additionally, Eagle Security and Personal Services (ESPS) is retained by the Investor Eagle Group, a stage for establishing manned security services in India.

The group was incorporated in 1980 and with a client base of more than 500 customers. Also, ESPS provides services outside the country consisting of 25 branches as a network.

According to a statement, Droni Tech plans to drive research and development in Mumbai. Due to the current fundraising plans, and the United States’ focus, to meet the growth via sales and marketing.

The Expanding Global Market

Onkar Bhosle, co-founder of Droni Tech stated, “In 2018, we will concentrate our energies on a small priority market like India, the US, and Canada. In 2019, the company appears to enlarge beyond these markets globally”

All drones of his recent company Droni Tech are connected with proprietary sensor technology. They also come with management software developed by the company. Furthermore, Droni Tech plans to support the corporates in handling, sustaining and observing their industrial drones through a single dashboard.

Onkar Bhosle once founded a Software-as-a-Service (SAAS) company, Customer360. However, the company was obtained by Nasdaq-listed Interactive Intelligence in 2015. Onkar Bhosle, has completed masters in computer science from State University, New York and also co-founded another SAAS firm known as Anveshan Technologies.

Onkar Bhosle stated “Our aim is for drones to handle agriculture farms and other applications on their own, preferable than humans. Now, each data point of flying drones is passed on a dashboard in real time. In Phase-III of our product, we would undergo some great phase of automated decision-making by the machine”