JSW Ventures Injects $1.8 Million into Aereo's Drone Tech Expansion
JSW Ventures announced an investment worth $1.8 million in Aereo, an aerial intelligence platform, as part of its Series B funding round. Aereo is looking to strengthen its foothold in the commercial drone sector and to enable entry into international markets with this investment.
Aereo uses advanced drone technology with AI-based data analytics toward asset management improvement in mining, infrastructure, and even land records industries. The company offers services on inventory assessment, quality inspection, and land record digitization.
Aereo has delivered multiple critical government projects for several years now, mapping over 45,000 villages under the SVAMITVA scheme, and over 50,000 square kilometers under the Digital India Land Record Modernization Program. The company has hit the EBITDA-profit level, which is testimony to its strong financial position.
Co-Founder and CEO Vipul Singh was excited about joining the journey with JSW Ventures and reiterated a shared vision of innovation in asset management through drone technology. Commenting on the growth of the DroneTech sector, Sachin Tagra, Managing Partner at JSW Ventures said that the company has huge potential to lead aerial intelligence solutions.
The company is a pioneer that has filed 15 patents related to advancements in drone technology; hence, it is perfectly suited to grab the future growth, considering that the global drone industry is perceived to grow to $51.4 billion by 2027.