India’s drone industry is on the brink of significant transformation, forecasted by MarketsandMarkets to escalate from $654 million in 2024 to an impressive $1,437 million by 2029, marking a compound annual growth rate (CAGR) of 17.0%. Among the trailblazers in this burgeoning sector is IG Drones, a startup founded in 2018 by Bodhisattwa Sanghapriya and Om Prakash, operating out of Gurugram.
IG Drones is strategically positioned to tackle critical challenges within the drone sector, primarily by reducing dependency on foreign technology and bridging the skills gap prevalent in drone manufacturing and operations. Sanghapriya, the CEO of the company, emphasized their mission, stating, “By offering advanced, indigenous dronetech solutions, IG Drones tackles critical industry hurdles and plays a pivotal role in advancing India’s drone ecosystem.” This commitment is reflected in their cutting-edge innovations, including military-grade simulators and the introduction of India’s first 5G-enabled drone.
The company is also laying plans to establish Drone Centers of Excellence, aimed at fostering skill development among aspiring professionals while driving innovation in the drone space. IG Drones currently provides an array of services, including surveying, mapping, and inspection, collaborating with the Indian Army, state governments, and numerous major enterprises.
The origins of IG Drones are rooted in the founders’ previous experience with rocketry projects during their time at Veer Surendra Sai University of Technology (VSSUT), where they led Asia’s first student rocketry mission, an initiative that eventually gained recognition from Prime Minister Narendra Modi and was absorbed by the Indian Space Research Organisation (ISRO). This experience instilled in them a vision for nurturing local talent and technology, which they sought to replicate in the drone sector upon founding their startup.
With the ambition to capture 5% of the drone market share by 2025, IG Drones has focused on developing indigenous, AI-powered solutions to streamline operations across various sectors, including defense, agriculture, and infrastructure. Their innovative products have earned them global accolades, including the Global Airwards.
In terms of product offerings, IG Drones has developed several advanced drones such as the IG Drones Jaga—the first 5G-enabled drone in India—designed for multi-faceted applications like security and infrastructure monitoring. Other notable products include Kissan, tailored for agricultural spraying, and SKYHAWK, which serves a broad range of functions from delivery to surveillance. The company’s DELTA 400 is specifically engineered for mapping and inspection tasks.
Sanghapriya highlighted their impressive growth trajectory, noting that IG Drones has served over 500 organizations including government agencies and defense forces, achieving a remarkable 250% year-on-year growth over the past three years. The company is poised for further growth, with forecasts indicating a potential quadrupling of FY24 revenue.
In pursuit of long-term industry sustainability, IG Drones has prioritized youth empowerment through its training programs, having trained over 50,000 individuals through its Drone Centers of Excellence. This initiative is fostering a skillful workforce equipped to meet the demands of a rapidly evolving drone industry.
However, the journey has not been without its challenges. Prakash pointed out that one of their major hurdles has been educating industries about the utility of drones in enhancing operational efficiency and cost-effectiveness. By consistently showcasing the practical benefits of drone technology, IG Drones has transformed many former skeptics into advocates.
The competitive landscape features several other players, including Garuda Drone, Idea Forge, BonV Aero, and DroneAcharya Aerial. What sets IG Drones apart, as noted by Prakash, is their integrated approach that combines hardware, software, and extensive service offerings, effectively positioning themselves as a holistic solution provider.
Operating on a B2B model, IG Drones has established itself as a reliable technological partner for a variety of stakeholders, including state governments, the Indian Railway, and prominent corporate groups. According to Lt Gen Anil Chait, Lead Advisor of India Accelerator, the company’s geospatial technologies significantly enhance surveillance and mapping capabilities for Indian armed forces, crucial for modern multi-domain warfare.
In a recent funding round, IG Drones secured $1 million, led by India Accelerator, with plans to raise an additional $3 million in the forthcoming months to bolster their R&D capabilities and expand both domestically and internationally. Currently present in five countries and forging partnerships with international firms, including South Korea’s iGiS, the company strives to enhance its technological footprint.
While details on revenue figures remain confidential due to military involvement, Sanghapriya revealed that IG Drones has successfully delivered multiple drones to leading industries and armed forces. The startup’s vision extends toward launching targeted tools to address specific challenges like agricultural yield monitoring and secure defense operations, ultimately shaping a future where drones are central to enhancing efficiency and driving innovation across sectors.
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