Thursday, June 13, 2024
Outlook.com
Outlook India
Outlook Business

Aerial Logistics Drone Start-Up BonV Aero Raises Rs 6 Crore Round Led By Inflection Point Ventures

BonV Aero, which provides electric aerial vehicles for challenging terrains, catering to critical logistics, will utilise the funds for client demos, team growth and R&D

Aerial Logistics Drone Start-Up BonV Aero Raises Rs 6 Crore Round Led By Inflection Point Ventures
(l-r) -Abinash Sahoo, Satyabrata Satapathy, Umang Rathi, Sultan Khan, Gaurav Achha and Rahul Kumar, co-founders of BonV Aero

Outlook Start-Up Desk

POSTED ON January 20, 2024 9:36 PM

Aerial logistics drone start-up BonV Aero has raised Rs 6 crore in a round led by Inflection Point Ventures (IPV). These funds will be primarily directed toward client demonstrations, team expansion, and internal R&D focused on enhancing products for customers, researching propulsion systems, and advancing power plants. 

BonV Aero offers aerial mobility through electric vehicles for both goods and passenger transportation specialising in aerial vehicles tailored for challenging terrains like the Himalayas. Its focus extends to critical needs such as Indian defense logistics, disaster relief, emergency medical services, supply chain logistics, and rapid commerce deliveries.  

The start-up was among the top three finalists on the 'Meet the Drapers' TV Show in the USA late last year. It is led by Satyabrata Satapathy, CEO and co-founder along with Gaurav Achha, co-CEO and co-founder; Abinash Sahoo, CTO and co-founder; Rahul Kumar, chief of design and co-founder; Sultan Khan, chief of manufacturing and co-founder and Umang Rathi, chief of operations and Software. They collectively bring diverse expertise from renowned companies like Asteria Aerospace, Bosch Automotive and ISRO. 

Inflection Point Ventures is an angel investing platform with over 9600 CXOs, HNIs, and professionals to invest in start-ups together. It has announced launching a $50 million CAT 2 AIF, Physis Capital, to invest in pre-Series A to Series B growth-stage start-ups.

Madhukar Bhardwaj, senior vice president of Inflection Point Ventures, said that aerial logistics had been a boon during emergencies. However, it comes with its own challenges. "Understanding the power of aerial space transportation, BonV Aero has developed a state of the art technology and is one of India's pioneering multi-utility electrical air vehicles, having demonstrated the capability of carrying 50 kilos in hilly regions, providing much-needed relief during natural calamities and when surface movements are unfavorable. These drones are clean, smart, sustainable, and most importantly, safe and affordable," he added.

BonV Aero has created India's first logistic aerial vehicle, capable of carrying 50 kilos over 10 kilometers at 10,000 feet in hilly regions, and has backed commercial orders. Thanks to its self-flying technology, this vehicle operates autonomously without constant pilot intervention. Its in-house propulsion system ensures efficient flights in extreme weather and high altitudes, making it a reliable choice for challenging conditions.

India's logistic aerial vehicle market is estimated at $6.7 billion, while the global market is projected to reach $44 billion by 2027. At present, BonV Aero is actively conducting product trials with the Indian Army, marking an initial phase on an operational scale. 

Satapathy said, "Funds will be deployed to mature our current Aerial Platform and conduct demonstrations to scale orders in this segment. Personally, I appreciate the seamless deal flow characterized by sharp timelines, as we firmly believe that, in addition to financial backing, time is a critical factor in any start-up journey. We also thank the Dynamic Orbits team, our advisors, and mentors for their constant support in our fundraising and growth journey."

BonV Aero was incubated at AIC CV Raman Global University, Odisha, and has secured the HDFC CSR Social Impact Grant. It has partnered with institutions like IIT Mandi and Bhubaneswar and was recognised among the top 10 start-ups selected by the Indian Army's Army Design Bureau (ADB). Collaborations with IITs drive innovation and nods from Headstart Network Foundation, and NITI Aayog highlights their role in India's innovation landscape. 

  • Related Articles

    The funding will further the development and production of Prismatic Li-ion NMC batteries that operate safely in high temperatures and support fast-charging

    International Battery Company Raises $35 Million, Including RTP Global's Pre-Series A Backing

    Blue Orchard and Tata Capital led the funding round, with participation from the Small Industries Development Bank of India (SIDBI) and existing investor Prime Venture Partners

    FinAGG Technologies Secures $11 Million In Series A Funding

    Ocean 14 Capital, Endiya Partners, Accion and other existing investors were also part of the round

    Aquaculture Start-Up AquaExchange Secures $6 Million In Series A Funding Round