The future of drones gets secured as JSW Ventures invests $1.8 million in drone tech company Aereo, to support its asset management innovations and expansion into global markets.
JSW Ventures, part of the JSW Group, which has diverse businesses, including automotive and infrastructure, announced on Monday that it has acquired a stake in drone technology company Aereo for $1.8 million. This investment was made as part of Aereo’s Series B funding round.
Aereo leverages drone technology and AI-driven data analytics to assist clients in asset management across various sectors, including mining and infrastructure. The company plans to use the newly raised funds to enhance its service offerings and expand into international markets.
Over the past three years, Aereo has mapped over 45,000 villages, covering over 50,000 square kilometres under the ‘Digital India Land Record Modernisation Programme’ (DILRMP). Additionally, Aereo has filed 15 patents on innovations in drone hardware, design, and predictive flight planning technologies.
Vipul Singh, Aereo’s co-founder and CEO, emphasised that the investment from JSW reflects confidence in the company’s mission to enhance asset management through drone technology.
JSW Ventures’ managing partner, Sachin Tagra, noted that the drone technology sector is rapidly growing, mainly fuelled by government initiatives like the Drone Regulations 2021. He highlighted that Aereo is at the forefront of this transformation.
JSW Ventures is an early-stage institutional venture capital fund that invests in technology-driven startups, further demonstrating its commitment to supporting innovation in the drone industry.
