Skylark Drones, an India-based drone solutions startup, has secured US$ 3 million in a pre-Series A investment round co-led by Info Edge Ventures and Indian Angel Network(IAN) Fund on 5 July 2021.
Investors: The funding round featured Info Edge Ventures and IAN fund as the lead investors, with participation from AdvantEdge Founders, Fowler Westrup, IKP Knowledge Park and Vimson Group and many more.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards product development, overseas business expansion and strengthening business development.
About Skylark Drones
Founded in 2014 by Mrinal Pai and Mughilan Thiru Ramasamy, Skylark Drones is a drone analytics platform that offers solutions to formulate upgradable drone operations and drone info disposable for businesses in the infrastructure, mining, agriculture, and renewable energy domain. The company is renowned for its AI-powered innovative products like Spectra and Drone Mission Ops. It also offers Dronepass, a product that enables drone producers to meet the regional airspace guidelines. The central mission of the firm is rendering the critical gains of drones, and drone info like enhanced efficiency, safety, and designing upgradable products for smarter strategy-making, rapid construction, and improved performance of high-end topographically spread properties such as roads, solar parks, mines and agricultural fields. Moreover, the startup is the sole Indian company to be a part of the global elite four drone solutions platform by Drone Industry Insights.
What the Founder has to say: “Today, we support and deliver our products and solutions to Fortune 500 companies. We are delighted to greet IAN Fund and Info Edge Ventures as the lead investors. We suspect that getting associated with Fowler Westrup, a pioneer agriculture solution company, and Vimson Group would aid in bolstering the sector-specific solutions offered to our clients.”- Mughilan Thiru Ramasamy, Co-founder and CEO of Skylark Drones.
What the Investors have to say: “The drone software industry is estimated to reach US$ 9,961.6 million by 2027, developing at a CAGR of 25.05% from 2020 to 2027. With the increasing popularity of modernised technologies such as artificial intelligence and machine learning, Skylark Drones’ products can stimulate capabilities while improving productivity and fortifying the safety of construction sites. The most impressive aspect of the company is a powerful and exceptional business model – one easy to scale in India and abroad. We are exhilarated to invest in the startup and aspire for the firm to increase its market share globally.”- Rajnish Kapur, Managing Partner at IAN Fund.
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