JSW Ventures picks up stake worth $1.8 mn in drone tech firm Aereo
JSW Ventures, an arm of diversified conglomerate JSW Group, on Monday said it has picked up a stake in drone technology entity Aereo for USD 1.8 million.
Aereo uses drone technology and AI-driven data analytics to help clients in asset management in sectors including mining and infrastructure, a statement by JSW Ventures said. The company raised the funds as part of Series B funding round.
Aereo, which is delivering operating profits, will be utilising the funds for strengthening its offerings and also expanding into international markets, it said.
The company has helped the government map over 45,000 villages over the last three years and cover more than 50,000 square kilometer for the Digital India Land Record Modernization Program (DILRMP), the statement said.
Aereo Co-founder and chief executive Vipul Singh said JSW's trust and support is a strong testament to its approach, and its mission to transform asset management through drone technology.
JSW Ventures' managing partner .