Drone Manufacturing, Services & AI Tech Startup Enercomp has raised its Angel Round of funding of INR 1.5 CR from ah! Ventures Angel Platform. This is ah! Ventures’s 23rd investment in 2021 and 5 more investments will be announced shortly. This is ah! Ventures’ 86th investment (in 68 Startups) taking its total investment portfolio to INR 227 CR (~31 MN USD) with 11 exits till date (and 2 more exits are in process).
Enercomp (NASSCOM selected startup) is a bootstrapped startup & is in drone operations for the past 3 years. It has witnessed around 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).
“India's drone market can grow to 50,000 CR in the next 5 years and we are also seeing great policy reforms by the government. In the past 2 years only, we have seen tenders of about INR 113 CR from the central government. We have done sales of around INR 50L in the last quarter only compared to INR 68L total revenue of the last year, which was also 2X of the revenue of the year before that.”, said Jatin Patel, Founder, Enercomp.
"Enercomp drone solutions are rightly placed in the data acquisition and processing space - providing 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.
With their proprietary tech, their solutions have capabilities to cater to the diverse sectors ranging from agriculture to industrial services to defense and much more. Their own drone products (BAAZ, SARAS, CHEEL) will be revolutionary products in Indian drone industry which will have competitive advantage in endurance (flying time), cost, weight, pilot training and very importantly ability to adapt as per the climatic condition and geographical landscape. WIth the increased demand of drones and their applications in the private sectors and increasing number of government initiatives in broadly utilizing drones in different activities such as entertainment, defense, surveillance & security, disaster management, surveys, infrastructure and commercial uses will push the demand directly in the coming years.", stated Anuj Kumar, Venture Partner, ah! Ventures.
“Until last year we had around 90% of revenue coming from 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 INR 35L for the products. With our strong positioning in survey/inspection business, we aim to achieve the target of 2.5 CR in the current financial year with an increased share in the B2G business as well (around 40% of target revenue).”, adds Jatin Patel, Founder, Enercomp.