Skylark Drones has successfully raised $3 million in a Series A funding round, marking a significant milestone in its growth journey. The company integrates drone solutions into scalable real-world applications, transforming industries such as mining, agriculture, and infrastructure.
Keep reading to explore the intricacies of Skylark Drones' fundraising journey and the investors backing this innovative platform.
What Is Skylark Drones?
Skylark Drones, founded by Mughilan Thiru Ramasamy and Mrinal Pai, is based in Bengaluru, India. The company specializes in AI-powered drone data analytics and surveys for industries like mining, solar, and construction. With a team of 51-200 employees, Skylark Drones aims to transform the drone ecosystem through innovative solutions.
How Much Funding Has Skylark Drones Raised?
- Pre-Series A Funding Round
- Amount Raised: $3 million
- Date: July 2021
- Lead Investors: InfoEdge Ventures and IAN Fund
- Motivation Behind the Round: To build out Skylark Drones' geospatial intelligence product and expand into international markets.
- Series A Funding Round
- Amount Raised: $3 million
- Date: July 2021
- Lead Investors: InfoEdge, Indian Angel Network, AdvantEdge Founders, Enzen Global Solutions
- Motivation Behind the Round: To expand market presence and scale operations in industries like solar, agriculture, utilities, minerals, and infrastructure monitoring.
Skylark Drones has raised a total of $6 million in funding. The current valuation is $20 million (~estimated).
Key Investors
- InfoEdge Ventures
- Details: InfoEdge Ventures is a venture capital firm that invests in early-stage technology companies. It is known for backing some of India's most successful startups.
- Investment Focus Areas: Technology, Internet, Consumer Services
- Notable Investments: Zomato, PolicyBazaar, Naukri
- IAN Fund
- Details: The Indian Angel Network Fund is a seed and early-stage fund that supports innovative startups. It is one of the largest angel networks in India.
- Investment Focus Areas: Technology, Healthcare, Education
- Notable Investments: Druva, WebEngage, Box8
- AdvantEdge Founders
- Details: AdvantEdge Founders is a venture capital firm that focuses on early-stage startups. The firm aims to support disruptive and scalable business models.
- Investment Focus Areas: Mobility, Fintech, Consumer Internet
- Notable Investments: Rapido, Chalo, Shuttl
- Fowler Westrup
- Details: Fowler Westrup is an agriculture solutions company that provides post-harvest equipment and services. It is a joint venture between John Fowler (India) Pvt. Ltd. and Westrup A/S, Denmark.
- Investment Focus Areas: Agriculture, Post-Harvest Solutions, Equipment Manufacturing
- Notable Investments: Specific investments not mentioned
- Vimson Group
- Details: Vimson Group is a mining conglomerate with a diverse portfolio in mining, logistics, and real estate. The group has a strong presence in the Indian mining sector.
- Investment Focus Areas: Mining, Logistics, Real Estate
- Notable Investments: Specific investments not mentioned
What's Next for Skylark Drones?
Skylark Drones is poised to capitalize on the burgeoning demand for geospatial intelligence and drone solutions across various sectors. With plans to expand internationally and strengthen its offerings in agriculture and mining, the company is well-positioned to tap into significant market opportunities. The global potential for drone technology in these industries is immense, promising substantial growth for Skylark Drones.
As the company scales, future fundraising rounds seem likely to support its ambitious expansion plans. However, navigating regulatory landscapes and maintaining service quality amid rapid growth will be critical challenges. Skylark Drones must also stay ahead of competitors to sustain its market position.
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