The Bengaluru Based Startup Plans To Use The Capital To Expand Its Reach And Fund R&D Activities
Bengaluru-based drone startup Aarav Unmanned Systems (AUS) has raised an undisclosed amount in a Pre-Series A funding round from GrowX Ventures, 500 Startups, and BellWether Advisors. The round also saw the participation of existing investors StartupXseed, 3ONE4 Capital and Sanjay Jesrani, aided by ValPro’s ‘Enablers’.
The proceeds from the round will be used for expanding the company’s reach and furthering R&D activities.
AUS is a drone technology startup that offers solutions for commercial application of drones to enterprises, using its indigenously developed proprietary technology.
Commenting on the fundraise, Sheetal Bahl, MD of GrowX Ventures said, “Drones have the ability to dramatically reshape the way enterprises work, and bring about significant gains in productivity and efficiency, across a wide variety of sectors. We believe AUS will be at the forefront of creating this impact and are delighted to join them on this journey,” said
Based out of Delhi, GrowX Ventures is an early-stage investment firm based that works closely with investee firms at both strategic and operational levels to drive scale. So far, it has invested in 23 companies including Mad Street Den, Quandl, Ziploan, and Locus.sh, among others.
Last year, in August, GrowX also led a $750K funding round in healthtech IoT startup Doxper.
Speaking of the Pre-Series A investment in the drone technology startup, Shalini Prakash, Venture Partner at 500 Startups India added, “Drones have the potential to transform the world for the better. AUS is working on several exciting applications for drones and they’re impacting industries in amazing ways by making them smarter and more efficient; we are very excited to be a part of their journey.”
500 Startups is a California-headquartered VC seed fund with a network of startup programmes across the globe. Its portfolio companies include legaltech startup SpotDraft, mobile payments platform FTCash, among others.
Earlier, in January 2018, AUS was one of the many Indian drone companies that demanded amendments to the government’s draft regulations on the use of UAVs. The Civil Aviation Ministry issued the draft stating the rules and guidelines pertaining to the use of drones in November last year.