New Delhi:Â IG Drones, India’s leading Drone Tech and AI company, has successfully closed its initial funding round, securing a substantial investment of USD 1 million at an undisclosed valuation. The first funding round was led by India Accelerator and Angel Investors marking a significant milestone in IG Drones’ journey as a trailblazer in the industry.
A significant portion of the funding will be allocated to advancing research and development, focusing on creating state-of-the-art drone solutions tailored for defence applications. This endeavour will involve collaboration with international companies specialising in the defence and aerospace sectors. It also plans to raise an additional $3 million over the next six months to further expand its operations in India and globally.
India’s drone market is poised for exponential growth, with projections indicating it will reach nearly 2.5 trillion Indian rupees by 2030. This is a remarkable leap from its size of just 29 billion rupees in 2020, reflecting the rapid expansion of the industry over the past decade. Notably, the defence sector emerges as the primary contributor to this growth, underscoring its pivotal role in driving the evolution of the drone market in India.
Commenting on the development, Ashish Bhatia, Founder and CEO at India Accelerator, remarked, ” IG Drones is innovatively pushing the boundaries of aerial technology and redefining the future of industries. Its advanced tech-based solutions are not only transforming operations across sectors but also driving efficiency and scalability in truly remarkable ways. We look forward to supporting their journey as they take flight and lead the charge in this rapidly evolving space.”
Initially supported by the Ministry of Electronics and Information Technology, IG Drones’ journey reflects its commitment to excellence and innovation.
Bodhisattwa Sanghapriya, Founder and CEO of IG Drones, said, “Our focus remains on innovation and R&D, talent acquisition, and global expansion. We are poised for exponential growth this year, solidifying our position as leaders in Drone Tech and AI. This first round of funding will provide the necessary boost for the brand’s advanced R&D in drone technology. It will also bolster our efforts to foster the drone tech landscape in India, in line with the government’s vision to promote cutting-edge technology. By leveraging advanced Drone Tech and AI, we can assist multiple industries like never before through predictive analytics.”
Founders of IG Drones Bodhisattwa Sanghapriya and Om Prakash started their journey by launching Asia’s first student rocketry mission during their engineering days at Odisha’s oldest technical university, VSSUT which was appreciated by Prime Minister Narendra Modi and was taken over by ISRO.
IG Drones, which stands at the forefront of Drone Tech and AI, specialises in drone manufacturing and R&D and provides services like surveying, mapping, and inspection. With a solid track record of partnering with the Indian Army, multiple state governments, and 100+ large enterprises, IG Drones has executed over 500 projects, cementing its reputation as an industry leader.
The company’s flagship product, the AI-powered Jaga drone, which is the first AI on edge Drone has garnered acclaim for its cutting-edge technology and precision performance, exemplifying IG Drones’ commitment to innovation and excellence. The drone-tech company has built India’s first 5G drone and has been working with the defence sector as well as other leading companies. IG Drones’ Kisaan is revolutionising the agricultural sectors by supporting farmers with cutting-edge solutions.
Aligned with national initiatives, IG Drones has established the Drone Centre of Excellence (CoE) to educate and empower India’s youth in drone technology and has signed an MOU with institutes like IIT Bhubaneswar and IIM Sambalpur. IG Drones is an NSDC Prime Partner and has trained 50,000+ youth across the country.
Last year, it launched India’s first indigenously developed simulator, ‘IG Military Simulator,’ in the presence of Prime Minister Narendra Modi.
In a testament to its growing stature, IG Drones has expanded its footprint globally and collaborated with leading companies like Igis. With a presence in five countries and plans for further expansion, IG Drones is well-positioned to capitalise on the momentum fueled by recent deregulation and government incentives in India and abroad.
The global drone market is projected to reach a staggering USD 51.4 billion by CY27, highlighting the substantial growth potential in the sector. This expansion not only underscores the market’s evolution but also positions drones as formidable disruptors shaping the future.
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