Plug and Fly FPV Drones Startup insideFPV Raises INR 3.5 Crore Seed Funding The company plans to use the fund to drive growth, innovation, and sustainability
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The Indian company that manufactures Plug and Fly FPV drones across Consumer, Defense and Agriculture segments, insideFPV, has raised INR 3.5 crore in a Seed funding round as part of the portfolio expansion of the private investment platform, Mumbai Angels. The round also saw the participation of other investors, including IPV, Soonicorn, and angel investors like Fossbytes and Kumar Sahu. The company plans to use the fund to drive growth, innovation, and sustainability.
As per an official release, the funds will also be used for R&D, product development, market expansion, and distribution and logistics. Additionally, the startup will also focus on enhancing its customer support and training, partnerships and collaborations, data analytics and software integration, and acquisition and strategic investments with the newly raised capital, it said.
"India's drone market is soaring to new heights, and our innovative products in defense, consumer, and agriculture are not just cutting-edge; they are the wings of progress, serving farmers, and civilians, and enhancing security. At InsideFPV, we believe in propelling a brighter, safer future for all through the power of drone technology," said ArthChowdhary, CEO, insideFPV.
insideFPV provides drones that empower its clients to create STEM education, create surveillance, and capture first-person view videos that were once out of their reach. The company's market scope encompasses various sectors, including Government contracts and Defense, Agriculture, Commercial Sectors, and Surveillance.
"Drone technology, although not entirely new, has gained immense traction in recent times. Today, drones are used in several sectors for multiple purposes. However, insideFPV's concept is a unique one, where customers can plug and fly the drones with a first-person view. It's also the first time such a concept has been introduced in India. This funding is a testament to insideFPV's innovations and technology, and we are confident that the fresh capital will enable the company to grow significantly and reach new heights," said Nandini Mansinghka, CEO, Mumbai Angels.