BonV Aero Secures INR 6 Crore in Funding Led by Inflection Point Ventures

BonV Aero Secures INR 6 Crore in Funding Led by Inflection Point Ventures

BonV Aero, the Indian pioneer in electric aerial logistics drones, has successfully secured INR 6 crore (US$728,000) in a funding round led by Inflection Point Ventures (IPV). This strategic investment fuels BonV Aero's mission to revolutionize aerial mobility for both goods and passenger transportation, not just in India, but across the globe.

The newly raised funds will primarily be directed towards three key areas:

  • Client demonstrations:  Showcasing the capabilities of BonV Aero's cutting-edge electric drones to potential clients across diverse sectors like defense logistics, disaster relief, emergency medical services, and supply chain management.

  • Team expansion:  Bolstering BonV Aero's already impressive team of industry experts to accelerate product development and market reach.

  • Internal R&D:  Focusing on enhancing existing products, researching advanced propulsion systems, and developing next-generation power plants for even greater efficiency and performance.

BonV Aero's unique offerings include state-of-the-art aerial vehicles specifically designed for challenging terrains like the Himalayas. Their flagship innovation is India's first logistic aerial vehicle, capable of carrying 50 kilograms over 10 kilometers at 10,000 feet in hilly regions. This autonomous drone boasts an in-house propulsion system for efficient flight in extreme weather and high altitudes, making it a game-changer for critical operations.

Madhukar Bhardwaj, Sr. Vice President at IPV, applauds BonV Aero's potential, stating, "These drones are clean, smart, sustainable, and most importantly, safe and affordable. With its innovative products, BonV Aero is sure to scale business across borders, and we at IPV look forward to extending our strategic support."

The startup's achievements extend beyond its groundbreaking technology. BonV Aero was among the top 3 finalists on the "Meet the Drapers" TV Show in the USA last year, solidifying its global potential. Currently, the company is conducting product trials with the Indian Army, marking a significant step towards operational scale.

Satyabrata Satapathy, CEO & Co-Founder of BonV Aero, expresses his gratitude for the support, stating, "This funding bolsters our confidence and fuels our vision to revolutionize aerial mobility for both goods and people in India and worldwide."

BonV Aero is well-positioned to capitalize on the burgeoning market for logistic aerial vehicles. The Indian market alone is estimated at $6.7 billion, and the global market is projected to reach a staggering $44 billion by 2027. With its cutting-edge technology, strategic partnerships, and unwavering commitment to innovation, BonV Aero is poised to take flight and soar towards a future where efficient and sustainable aerial transportation becomes a reality for everyone.

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January 19, 2024

Kalpana Maurya