Bengaluru, NFAPost: Skylark Drones, a leading drone platform company, announced that it has secured USD $3 million in a pre-series A funding round to strengthen its product offerings and fuel international expansion.
The funding round was co-led by investors InfoEdge Ventures and IAN Fund with participation from AdvantEdge Founders, Fowler Westrup, Redstart Labs, IKP and Vimson group. This follows the company’s previous seed funding round, which took place in 2018.
Skylark Drones, which has offices in the USA and India, aims to elevate worksite productivity and safety by providing geospatial intelligence to different enterprises in sectors such as mining, solar power, real estate, agriculture and inspection. It provides its clients with the ability to use AI powered technology products such as Spectra and Drone Mission Ops.
Skylark Drones offers end-to-end solutions with Spectra enabling worksite intelligence and several platform integrations and API access. Drone Mission Ops enables project and fleet management for large enterprises and individual operators to effectively plan and execute drone missions.
It also offers Dronepass, a device to enable drone manufacturers to comply with local airspace regulations. These solutions allow customers to tap into the advantages of drone data analytics and use it to plan better, construct faster, and operate in a safer way.
Skylark Drones CEO & co-founder Mughilan Thiru Ramasamy said the company’s vision is to unlock the economic potential of aerial intelligence.
“We thank the lead investors of this round and believe the participation of Fowler Westrup, a leading agriculture solutions company, and Vimson Group mining conglomerate will help further strengthen the sector focussed solutions we offer our customers,” said Mughilan Thiru Ramasamy.
The company will primarily use the new funding to enhance the actionable insights from drone data that it provides, in order to aid and simplify superior business decisions and strategy for its clients. The investment will also be used to spur international product expansion and development of its drone data analytics products.
Info Edge Venture Fund Partner Amit Behl said Aerial intelligence is a theme that has immense potential as it provides significant cost, time and accuracy benefits for large infrastructure companies which face frequent cost and time overruns.
“Skylark has built an indigenous platform that facilitates quick mobilization of independent drone pilots, enabling them to run drone missions to gather aerial images of large worksites. Skylark’s computer vision software analyses this aerial imagery to offer industry specific insights for its mining, solar and construction clients. Being amongst a limited set of players who have a full-stack offering, we believe that the opportunity for the company is global,” said Amit Behl.
IAN Fund Managing Partner Rajnish Kapur said the global drone software market size is projected to reach $9,961.6 million by 2027, growing at a CAGR of 25.05% between 2020 and 2027.
“With the rising adoption of advanced technologies such as AI and ML, Skylark Drones’ solutions can unlock potential while increasing productivity and ensuring safety of work-sites. What impressed us most was a strong and unique business model – one that is easily scalable in India and beyond. We are delighted to make this contribution and hope the company marks its presence globally,” said Rajnish Kapur.
Skylark Drones co-founder Mrinal Pai said drones are becoming the norm for remote worksite monitoring & inspections, and it has seen rapid adoption from marquee enterprises like Tata Steel, Ultratech Cement, Softbank Energy over the past few years. “We look forward to serving more enterprises in the next leg of our growth story,” said Mrinal Pai.
Kunal Khattar, Managing Partner of AdvantEdge Founders said the Skylark team led by Mughilan and Mrinal is one of the best teams out there with global aspirations to build deep tech solutions and services for full stack array of drone applications.
“We have been impressed by the technology stack built by the team and strong execution demonstrated while working with the country’s top conglomerates. We are delighted to participate in this round to partner with them to build in India for the world,” said Kunal Khattar.
Since its founding in 2015, Skylark Drones has pioneered a variety of technological advances for the drone software industry. The company leverages drone data and transforms petabytes of aerial information into actionable business insights for clients to help them work more efficiently.
About Skylark Drones
Skylark Drones is a drone platform company aimed at providing work-site intelligence to enable accurate business decision-making using Drone data. The company is building core infrastructure for the global drone ecosystem to achieve this. Its founders are Mughilan Thiru Ramasamy and Mrinal Pai, both Bengaluru-based engineers who are avid drone-enthusiasts.
The platform empowers Fortune 500 companies with drone analytics, service providers with secure execution of flights and manufacturers with regulatory airspace compliance. It has offices in the U.S. and India, and has over 100 enterprise clients, more than 1 million images processed and over 20,000 autonomous flights executed via their platform. More information available at www.skylarkdrones.com