Mumbai Angels, a platform for private investments, has expanded its portfolio further by investing in InsideFPV. The seed funding round that raised Rs 3.5 crore also saw the participation of other investors, including IPV, Soonicorn, and angel investors like Fossbytes and Kumar Sahu.
InsideFPV provides drones that offer creating STEM education, create surveillance, and capture first-person view videos that were once out of their reach.
InsideFPV will use the freshly infused capital strategically to drive growth, innovation, and sustainability. Specifically, the funds will be used for R&D, product development, market expansion, distribution and logistics. 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, according to the company.
Nandini Mansinghka, CEO of Mumbai Angels, said, “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.”
As of now, the Shark Tank startup has served over 1,000 customers, delivered over 2,000 orders, registered an additional 15,000+ customers for buying drones, has set up 10+ drone arenas, and served 3+ regiments.
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