The raise of an undisclosed amount of seed funding have been announced by Pune and Silicon Valley based drone start-up, FlytBase on December 20. This funding is arranged from US-based early stage venture capitalists and angel investors.
These seed funds will be used by the company to get their drone adoptions matured from Proof of Concepts (PoCs) and pilots to entirely autonomous, multi-site drone operations. Flytbase plans further to enhance its commercial drone automation software wherein its major focus will be on building commercial use-cases like warehouse inventory management, wind turbine inspection, security and surveillance alive remote drone operation among others.
FlytBase was founded in 2017 by Nitin Gupta and it is known for developing commercial drone solutions like FlytCloud and FlytOS software which enable intelligent automation of most major drone hardware platforms.
As stated by FlytBase the commercial drone market still continues to accelerate globally. FlytBase reportedly claims that it has been quite instrumental in terms of helping a logistics and supply chain company, IAG Cargo which is a part of British Airways in building a fully autonomous drones-powered technology which can manage warehouse inventory. It was in March 2019 that the company turned up to win the global champion at NTT Data’s 2019 Open Innovation Contest.
A report suggests that the total funds raised by drone start-ups in the country since 2014 to 2018 was about $16.56 Mn, which sums up to be 2.26% of the total deep-tech funding which is $732 Mn.
The emerging Drone Technology market in India
The hyperlocal delivery platform Dunzo and Throttle Aerospace Systems-Drone manufacturer’s request to test the autonomous drones in India got recently approved by the DGCA- Indian civil aviation authority Directorate General of Civil Aviation. Both the companies are likely to start their drone-oriented experiment early next year.
Through a different report it has been confirmed that the government of Telangana has formalised the plan for a six-month pilot called Medicines from the sky in association with Apollo Hospitals and the World Economic Forum (WEF). With the help of this project, the government of Telangana is looking for ways through which healthcare can get increasingly accessible to communities across the state.
The drone market is likely to touch $21.47 Bn globally by 2021. However, in India it is likely to be valued at $885.7 Mn by next year.