InsideFPV Secures Rs 2.75 Crores in Seed Funding Led By IPV
- ByStartupStory | July 6, 2023
InsideFPV, a pioneering drone manufacturer, has successfully secured Rs 2.75 crore in a seed funding round with Inflection Point Ventures at the helm.
The newly acquired funds will be leveraged towards product development, marketing initiatives, and further research, as stated by InsideFPV.
Founded by Oshi Kumari, Arth Chowdhary, and Devyant Bhardwaj, InsideFPV specializes in providing cost-effective drone solutions specifically engineered to withstand crashes, ensuring unmatched durability and a prolonged lifespan for their esteemed customers.
Drones have gained widespread usage in diverse fields, including commercial, military, and agricultural applications. However, the high price point has always been a significant barrier for many potential users. InsideFPV strives to bridge this gap by offering groundbreaking Plug and Fly FPV (First Person View) drones that are not only affordable but also provide an exceptional user experience.
Moreover, InsideFPV has garnered attention by featuring on Shark Tank India and receiving recognition from the Government of India as a robotics industry startup under the esteemed Startup India initiative.
Despite the funding challenges in the industry, drone startups have continued to thrive. In a remarkable development last month, ideaForge, one of the most well-funded startups in this domain, debuted on the stock exchange. Aereo (formerly Aarav Unmanned Systems) and Omnipresent Robot and Garuda Aerospace are also contemplating IPOs within the next few years.
Garuda, supported by former Indian cricket team captain Mahendra Singh Dhoni, successfully raised an impressive $22 million in a Series A funding round earlier this year. Additionally, Coromandel International Limited, an agricultural solution provider, recently announced the acquisition of Dhaksha, a prominent manufacturer of petrol engine-based drones designed specifically for agricultural spraying applications.
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