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Under the banner of Aereo, the startup intends to create more impactful solutions and cover more applications in the coming time
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Drone tech startup Aarav Unmanned Systems has rebranded itself as Aereo. In its new avatar, the company is intent on developing impactful solutions and expanding its presence in India and globally.
Founded in 2013, Aereo has mapped more than 5.5 million acres, 30000 villages and 45 cities. It has also covered more than 500 mines and 350 stockyards for mining, metal, and power companies like Tata Steel, Hindalco, Coal India and more.
Speaking exclusively to BW Businessworld, Vipul Singh, co-founder and CEO at Aereo said, “We decided on Aereo because we feel that it covers both the ‘aerial’ as well as ‘EO’, which stands for electro-optical. Image-based decision-making or collection of maps is considered as electro-optical activity.”
Under the banner of Aereo, the startup intends to create more impactful solutions and cover more applications in the coming time.
“We are going to penetrate deeper into analytics, which we deliver in the sectors where we are present. Also, we are looking to increase our presence and number of applications”, Singh added.
The new identity was conceptualised by the company to reflect the vision and mission to enable technology adoption in legacy operations. Aereo’s end-to-end solutions focus on drone intelligence and data analytics to bring accuracy, efficiency, and safety to operations, and helping companies and governments achieving ESG goals.
Aereo’s products have been comparable to those coming in from Germany and other countries.
With seven patents filed and seven more in the pipeline, Aereo has relied on its deep-tech expertise that has allowed it to design both hardware and software in-house. This innovation has also helped the company deliver handsome ROIs to the end user, which the company could control due to its in-house capabilities rather than depending on off-the-shelf solutions.
Aereo has claimed to be profitable and EBITDA positive for the last three years. “Our revenues have been growing at 250 per cent on year-on-year (YoY) basis for the last three-and-a half years”, said Singh.
Since August 21, Aereo’s order books have increased by 8x and its pipeline has increased by 10x. To build on this momentum, the company says that it will penetrate deeper into sectors where it already delivers solutions. Additionally, Aereo is looking to enter more sectors including agriculture and renewable energy in the next one-and-a-half-year period.
“We have been quite successful in solving some very critical problems in India at large scale. This gives us the confidence and helps us reach a technological stage, where we feel that now we are ready to solve similar problems for other countries. So, we'll be looking to the international market to solve similar problems”, informed the Aereo CEO.
The drone tech company is setting its eyes on countries in Southeast Asia, the Middle East and Latin American for expansion. To fund the road ahead, Aereo is pursuing a Series B round.