Drone technology company Okulo Aerospace has secured $1 million in a pre-seed round led by Ideaspring Capital along with round participation from Java Capital, Coimbatore Innovation and Business Incubator (Forge Innovation & Ventures), and a group of angels from Rockfort Ventures.
The proceeds will be allocated towards product development, team expansion, and establishing early traction with customers through targeted marketing and sales initiative, Okulo Aerospace said in a press release.
Founded in 2019 by Parithi Govindaraju, Okulo Aerospace provides end-to-end aerial monitoring solutions that enable enterprises to capture data and derive actionable insights. Its solutions include long-endurance unmanned aerial vehicles equipped with high-performance sensors and an AI platform to provide advanced analytics.
According to Okulo Aerospace, it has the potential to revolutionise various industries by optimising operations, enhancing situational awareness, and aiding in critical defence operations.
The Bengaluru-based startup claims to have achieved a flight time of over 6 hours with its UAV, positioning it as the longest flight time in its class.
In the drone technology space, Ahmedabad based Enercomp raised 2.6 crore in May 2023 led by Bestvantage, Ah! Venture and Soonicorn Ventures. Okulo Aerospace directly or indirectly competes with ideaForge, Dhaksha, and MS Dhoni backed-Garuda, Skyroot Aerospace, and Bellatrix Aerospace, among others.
