Odisha-based BonV Aero wins Rs 14 cr funding on US reality TV show

Prameyanews English

Published By : Prameya News Bureau | July 06, 2024 IST

Bhubaneswar, July 8: In a remarkable achievement, Odisha-based deep-tech drone startup BonV Aero has secured Rs 14 crore in funding after winning a reality television show in the US. Competing against startups from ten countries, including the US, Taiwan, Spain, Brazil, France, and Italy, BonV Aero represented India and emerged victorious.

 

During a press conference, Satyabrata Satpathy, co-founder and CEO of BonV Aero, announced the significant funding win. Satpathy highlighted that this funding will accelerate their research and development efforts in the deep-tech drone sector. He noted that BonV Aero is the first Indian company to win such a substantial amount from a global competition, adding that investor Tim Draper, renowned for his early investments in major global companies, was highly impressed by BonV Aero’s innovative approach and vision.

 

BonV Aero began its journey with seven members and was incubated in a private engineering college on the outskirts of Bhubaneswar. Since its inception in 2021, the startup has grown to a team of 40 members and now operates a manufacturing unit in Bhubaneswar. "Our startup specializes in developing advanced logistics drones," Satpathy said. "We have previously delivered advanced drones to the Indian Army, capable of operating at high altitudes above 10,000 feet and in challenging environments."

 

Satpathy expressed immense pride in the victory, emphasizing that it serves as a powerful example for aspiring entrepreneurs across India. "Our victory demonstrates the endless possibilities that come from dedication, innovation, and a relentless pursuit of excellence," he stated.

 

Abhinash Sahoo, another founder of BonV Aero, highlighted that this success not only underscores the potential of Odisha’s startup ecosystem but also showcases the talent within the state. "This achievement is expected to inspire more entrepreneurs in Odisha," Sahoo added.

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