Drone startup BonV Aero raises Rs 6cr, round led by IPV

(Drone startup BonV Aero has raised Rs 6 crore in a round led by Inflection Point Ventures (IPV). Funds will be primarily used for client demonstrations, team expansion and internal R&D focused on enhancing products, researching propulsion systems and advancing power plants, says a release from BonV Aero.

Satyabrata Satapathy, CEO & Co-Founder, BonV Aero says: “Funds will be deployed to mature our current aerial platform and conduct demonstrations to scale orders in this segment. The support from IPV investors significantly bolsters our confidence in the path we’ve travelled and our vision to revolutionise aerial mobility for both goods and people in India and worldwide. Personally, I appreciate the seamless deal flow, characterised by sharp timelines as we firmly believe that, in addition to financial backing, time is a critical factor in any startup journey. We also extend our gratitude to the Dynamic Orbits team, our advisors and mentors for their constant support in our fundraise and growth journey.”

The startup is led by Satapathy, Gaurav Achha (Co-CEO & Co-Founder), Abinash Sahoo (CTO & Co-Founder), Rahul Kumar (Chief of Design & Co-Founder), Sultan Khan (Chief of Manufacturing & Co-Founder) and Umang Rathi (Chief of Operations & Software) who bring diverse expertise from companies like Asteria Aerospace, Bosch Automotive and ISRO, the release added.

"BonV Aero revolutionises aerial mobility through cutting-edge electric vehicles for both goods and passenger transportation, specialising in state-of-the-art aerial vehicles tailored for challenging terrains like the Himalayas. The company’s focus extends to critical needs such as Indian defence logistics, disaster relief, emergency medical services, supply chain logistics and rapid commerce deliveries. BonV Aero stands as a brand synonymous with top-tier safety and unparalleled convenience in aerial transportation."

Madhukar Bhardwaj, Senior Vice President, IVP says: “Aerial logistics has been a boon during emergencies; however it comes with its own challenges. Understanding the power of aerial space transportation, BonV Aero has developed a state of art technology and is one of India's pioneering multi-utility electrical air vehicles having demonstrated capability of carrying 50 kilos in hilly regions, providing much needed relief during natural calamities and when surface movements are unfavourable. These drones are clean, smart, sustainable, and most importantly safe and affordable. With one of its kind innovative products, the company is sure to scale business across borders and we at IPV look forward to extending our strategic support.”

BonV Aero's aerial vehicle is capable of carrying 50 kilos over 10 kilometres at 10,000 feet in hilly regions and has backed commercial orders, the release added. BonV Aero is actively conducting product trials with the Indian Army, marking an initial phase in operational scale.

The logistic aerial vehicle market in India is estimated at $6.7 billion while the global market is projected to reach $44 billion by 2027, the release added.