BonV Aero Secures INR 6 Crore in Funding Led by Inflection Point Ventures

• ByStartupStory     |    January 18, 2024

BonV Aero, the pioneering aerial logistics drone startup, has successfully raised INR 6 Crore in a funding round led by Inflection Point Ventures (IPV). The funds will primarily be allocated for client demonstrations, team expansion, and internal R&D focused on enhancing products for customers, researching propulsion systems, and advancing power plants.

BonV Aero specializes in cutting-edge electric vehicles for aerial mobility, catering to both goods and passenger transportation. Their focus includes state-of-the-art aerial vehicles tailored for challenging terrains such as the Himalayas. The startup addresses critical needs in areas like Indian defense logistics, disaster relief, emergency medical services, supply chain logistics, and rapid commerce deliveries, establishing BonV Aero as a brand synonymous with top-tier safety and unparalleled convenience in aerial transportation.

The startup, led by a team of industry experts, has already achieved notable milestones, including ranking among the top 3 finalists on the “Meet the Drapers” TV Show in the USA last year.

Madhukar Bhardwaj, Sr. Vice President, Inflection Point Ventures, expressed optimism about BonV Aero’s potential, stating, “BonV Aero has developed state-of-the-art technology and is one of India’s pioneering multi-utility electrical air vehicles. These drones are clean, smart, sustainable, and most importantly, safe and affordable. With one of its kind innovative products, the company is sure to scale business across borders, and we at IPV look forward to extending our strategic support.”

BonV Aero has distinguished itself by creating India’s first logistic aerial vehicle capable of carrying 50 kilos over 10 kilometers at 10,000 feet in hilly regions. The innovative vehicle operates autonomously, thanks to its self-flying technology, and boasts an in-house propulsion system for efficient flights in extreme weather and high altitudes.

Currently conducting product trials with the Indian Army, BonV Aero marks an initial phase in operational scale.

Satyabrata Satapathy, CEO & Co-Founder, BonV Aero, expressed gratitude for the support, stating, “Funds will be deployed to mature our current Aerial Platform and conduct demonstrations to scale orders in this segment. The support from IPV investors significantly bolsters our confidence in the path we’ve traveled and our vision to revolutionize aerial mobility for both goods and people in India and worldwide.”

BonV Aero, incubated at AIC CV Raman Global University, Odisha, has secured the HDFC CSR Social Impact Grant and partnered with respected institutions like IIT Mandi and Bhubaneswar. The logistic aerial vehicle market in India is estimated at $6.7 billion, and the global market is projected to reach $44 billion by 2027.

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