New Delhi: IG Drones, an Indian drone tech startup, has raised $1 million in its initial funding round, led by India Accelerator and a group of angel investors. The funds will be used to enhance the company’s research and development, with a focus on advanced drone solutions tailored for defense.
The startup plans to collaborate with international aerospace and defense firms to develop its technology. IG Drones also aims to raise an additional $3 million in the next six months to expand its operations in India and globally.
India’s drone market, which was valued at 29 billion rupees in 2020, is expected to grow to nearly 2.5 trillion rupees by 2030, driven largely by defense applications. This significant market potential aligns with IG Drones’ focus on developing solutions that support India’s defense sector.
Ashish Bhatia, CEO of India Accelerator, noted that IG Drones is advancing aerial technology with applications across various sectors. Bodhisattwa Sanghapriya, CEO of IG Drones, emphasized the company’s dedication to innovation, R&D, and global expansion.
IG Drones’ early support from the Ministry of Electronics and Information Technology has positioned it as a key player in India’s growing drone industry.
