Inflection Point Ventures led a Pre-series A round of funding for drone-tech startup UrbanMatrix Technologies, which brought in Rs 6 crore. According to a statement from the business, the money will be used for staff growth, developing products, and entering new markets.
UrbanMatrix Technologies assists businesses & industries in smoothly integrating drones into their operations to increase productivity & profitability.
Vikram Ramasubramanian, Partner, Inflection Point Ventures, said, “Drone industry has been growing extensively especially with the government vision of Aatmanirbhar Bharat which aims to shape India as a global drone hub by 2030. The drone industry is a sunrise sector with phenomenal market opportunities, IPV looks forward to extending their strategic support and helping UrbanMatrix scale their business. The company has successfully developed end to end drone solution products which aim to capture a wide range of use cases and expand geographically.”
UrbanMatrix Technologies is a micro drone specialist that builds compliant drone hardware and unique software solutions to let companies effortlessly harness the potential of aerial data.
Rishabh Verma, CEO and Co-founder, Urban Matrix, stated, “Drones are unlocking the true potential of our skies. With increasing acceptance of drone technology by multiple industries, the challenge of scaling drone operations becomes a bottleneck. At UrbanMatrix, we are leveraging cutting-edge cloud technology to solve this challenge.”
UrbanMatrix is a start-up company situated in Bangalore that specialises in offering complete drone solutions. IIT Madras graduates—Rishabh Verma, Ashutosh Kumar, Divyanshu Pundir, and Ajay Karthik—founded it. They were all highly skilled technologists with a wealth of entrepreneurial experience. They also held multiple patents and publications under their names, as well as awards from DRDO and IIT Madras, including the “Best Entrepreneur Award.”