Dronetech startup UrbanMatrix raises pre-Series A round

Drone tech startup UrbanMatrix Technologies has raised Rs 6 crore in a pre-series A round led by Inflection Point Ventures. 

The funds will be allocated towards product development, team expansion and expanding into new markets, UrbanMatrix said in a press release.

 Founded in 2019 by Rishabh Verma, Ashutosh Kumar, Divyanshu Pundir and Ajay Karthik, UrbanMatrix makes industrial drones and softwares used in drones for a variety of use cases including survey, surveillance, agriculture, AI-aided inspection, and defense. 

UrbanMatrix operates in a 3,000 square feet commercial space with a dedicated manufacturing area producing. The company offers quantum encryption technology along with cloud integration for data safety, guaranteeing reliability and ease of use for clients across different industries.

 The company has partnerships with ISRO, Paras Aerospace, and ATV. It holds certifications like DGCA's Type Certification for its advanced 4G/5G-enabled drone, UMT Hawk4G, and has secured patents for innovations like NextCC and unique drone designs.  

On Wednesday, drone startup Garuda Aerospace raised $3 million in a bridge round led by Venture Catalysts and WeFounderCircle.  

According to TheKredible, around 10 dronetech startups have raised around $64 million till September. The list counts ideaForge, insideFPV, Indrones, and PDRL  among others.