The startup Enercomp solutions will be using the freshly raised funds to cater to diverse sectors, from agriculture to industrial services, and much more.
On Monday, drone manufacturing and AI tech startup based in Ahmedabad Enercomp raised its angel round of funding of Rs 1.5 crore from ah! Ventures angel platform.
This is ah! Ventures’ 23rd investment in 2021 and five more investments will be announced shortly.
Speaking on the market of drone in India, Jatin Patel, Founder of Enercomp said “India’s drone market can grow upto Rs 50,000 crores in next five years in which we are seeing our growth, According to new government reforms in last 2 years the central government have published the tenders of 113 crores. We have done sales of around Rs 50 lakh in the last quarter, compared to Rs 68 lakh total revenue of the last year, which was also 2X of the revenue of the year before that”.
In past three years, NASSCOM selected startup Enercomp has seen 3X growth rate and acquired clients like Tata projects, RIL, Shapoorji Pallonji, Indospace, Iron Triangle, MIDC, Gujarat Forest, Sangli Corporation, and many more (70+ unique clients).
According to Anuj Kumar, Venture Partner at ah! Ventures, Enercomp drone solutions are rightly placed in the data acquisition and processing space, providing an effective decision-making process and project implementation for their clients both in private, as well as government sectors.
“With their cost effective drone services, they are addressing the major problem of traditional data collection methods, analysis and dissemination and solving these issues with accuracy, efficiency, and scalability. Their USP lies in their in-house developed software, dashboard, sensor, GIS which can be further customized as per the project requirement,” he said.
With its proprietary tech, Enercomp’s solutions have capabilities to cater to diverse sectors ranging from agriculture to industrial services to defence, and much more.
“Their own drone products (BAAZ, SARAS, CHEEL) will be revolutionary products in the Indian drone industry which will have a competitive advantage in endurance (flying time), cost, weight, pilot training and very importantly, ability to adapt as per the climatic condition and geographical landscape,” stated Anuj.
“Until last year we had around 90 percent of revenue coming from the B2B sector and from the drone services business. This year we are launching our drones and our GIS platform and in fact, we have already booked orders of around Rs 35 lakh for the products. With our strong positioning in the survey/inspection business, we aim to achieve the target of Rs 2.5 crore in the current financial year with an increased share in the B2G business as well (around 40 percent of target revenue),” said Jatin.