IIT Graduates-led Drone Startup Urban Matrix Raises Rs. 6 Crore in Pre-Series A Round

Drone tech startup UrbanMatrix Technologies has raised Rs. 6 Crore in a Pre-series A round led by Inflection Point Ventures. The funds will be allocated towards product development, team expansion and expanding into new markets.

Founded in 2019 by IIT graduates Rishabh Verma, Ashutosh Kumar, Divyanshu Pundir and Ajay Karthik, UrbanMatrix develops powerful industrial drones and softwares used in drones for a variety of use cases including survey, surveillance, agriculture, AI-aided inspection, and defense.

The company offers cutting-edge quantum encryption technology along with cloud integration for data safety, guaranteeing top-notch reliability and ease of use for clients across different industries, making drone operations safer and more efficient.

“Drone industry has been growing extensively especially with the government vision of Aatmanirbhar Bharat which aims to shape India as a global drone hub by 2030. The drone industry is a sunrise sector with phenomenal market opportunities, IPV looks forward to extending their strategic support and helping UrbanMatrix scale their business. The company has successfully developed end to end drone solution products which aim to capture a wide range of use cases and expand geographically,” says Vikram Ramasubramanian, Partner, Inflection Point Ventures.

UrbanMatrix operates in a 3,000 square feet commercial space with a dedicated manufacturing area producing. 

Rishabh Verma, CEO & Co-founder, Urban Matrix, says, “Drones are unlocking the true potential of our skies. With increasing acceptance of drone technology by multiple industries, the challenge of scaling drone operations becomes a bottleneck. At UrbanMatrix, we are leveraging cutting-edge cloud technology to solve this challenge.”

UrbanMatrix has achieved significant milestones, including key partnerships with ISRO, Paras Aerospace, and ATV. They hold certifications like DGCA's Type Certification for their advanced 4G/5G-enabled drone, UMT Hawk4G, and have secured patents for innovations like NextCC and unique drone designs.

The company has won awards such as the Dell Technologies Startup Challenge, highlighting their impactful presence in the industry. 

The drone industry is growing rapidly, with India's market projected to reach $200 million in 2023 and expected to touch $4 billion by 2030. Globally, the industry is equally dynamic, with a market size of $30 billion in 2022 expected to surge to an impressive $180 billion by 2030. These figures underscore the significant expansion and opportunities in both the Indian and global drone markets over the next decade.- TWL Bureau