Skylark Drones, a drone platform startup based in India, announced on July 5th that it had raised $3 million in Pre-Series A funding round.
The funding round was co-led by InfoEdge Ventures and IAN Fund, while also attracting investment from AdvantEdge Founders, Fowler Westrup, Redstart Labs, IKP, and Vimson group.
With offices in India and the United States, the startup had previously held its seed funding round in 2018, after winning the ET Startup Best on Campus award.
The startup was born from the participation of its founders in intercollege competitions, transitioning to capturing meaningful data and improving operations for organizations all around India.
The startup offers geospatial intelligence to the mining, energy, real estate, and agricultural industry to improve both productivity and safety conditions.
Mughilan Thiru Ramasamy, CEO & co-founder of Skylark Drones, referred to the startup’s vision by stating:
“Our vision is to unlock the economic potential of aerial intelligence. We thank the lead investors of this round and believe the participation of Fowler Westrup, a leading agriculture solution company, and Vimson Group mining conglomerate will help further strengthen the sector focused solutions we offer our customers. ”
The statement said Skylark Drones will be using the new funds to, “enhance the actionable insights from drone data that it provides,” as well as to boost international product expansion and development.
The global drone software market is expected to represent a $9.9 billion industry by the year 2027, according to Rajnish Kapur, Managing Partner at IAN Fund. Kapur believes that the startup’s “strong and unique” business model will allow it to play a major role in the country’s industry and beyond.
With automation becoming an increasing interest for different industries due to the improved efficiency and lower costs it offers, as well as reduced risk for certain tasks, drone platform startups like Skylark Drones have a unique opportunity to participate in the market of the future.