l Investment to Strengthen Aereo’s Market Position in Commercial Drone Solutions and Expand Global Reach
l Aereo Set to Leverage Funding for Growth in Mining, Infrastructure, and Land Record Sectors, Expanding Operations to International Markets
Bengaluru, October 7, 2024: JSW Ventures has invested $1.8 million in Aereo, an aerial intelligence platform, as part of its Series B funding round. This investment aims to strengthen Aereo’s position in providing innovative commercial drone solutions and accelerating its growth into international markets.
Aereo leverages advanced drone technology and AI-driven data analytics to enhance asset management in sectors such as mining, infrastructure, urban and rural development, and land records. The company’s comprehensive offerings include inventory assessments, quality inspections, and land record digitization.
Over the past three years, Aereo has been instrumental in executing large-scale government projects, mapping over 45,000 villages under the SVAMITVA scheme and covering more than 50,000 square kilometers for the Digital India Land Record Modernization Program (DILRMP). Aereo has also achieved profitability at the EBITDA level, highlighting its robust financial health and sustainable growth model.
Vipul Singh, Co-founder and CEO of Aereo, said, “We are thrilled to welcome JSW Ventures as a partner in our growth journey through this Series B round. Their trust and support are a strong testament to our innovative approach and our mission to transform asset management through drone technology. With JSW Ventures’ expertise and shared vision, we are poised to scale new heights and expand our reach globally.”
Sachin Tagra, Managing Partner at JSW Ventures, said, “The DroneTech space has experienced tremendous growth in recent years, driven by government initiatives such as the Drone Regulations of 2021 and rapid technological advancements. We believe that Aereo is at the forefront of this transformation, and we are excited to support them as they expand into new markets and continue to innovate in aerial intelligence solutions.”
This partnership between JSW Ventures and Aereo marks a significant milestone in the journey of both organizations, aiming to push the boundaries of innovation in the drone industry and unlock the potential of aerial intelligence to revolutionize asset management across sectors.
A key aspect of Aereo’s innovation is its focus on intellectual property, with 15 patents filed that cover advancements in drone hardware, design, and predictive flight planning technologies. This intellectual property strengthens Aereo’s technological capabilities and market position, allowing it to deliver cutting-edge solutions tailored to the unique requirements of its customers.
The global drone industry is projected to grow at a compound annual growth rate (CAGR) of 20%, reaching $51.4 billion by 2027. Aereo aims to capitalize on this growing opportunity by focusing on the enterprise segment, which is expected to see significant growth as commercial applications gain traction. The company is strategically scaling its operations to expand into key international markets, including Australia, Brazil, and Africa.
