In today’s world of drones, there are numerous companies making their way in fields like artificial intelligence, aerospace, machine learning, and others. Technology is constantly growing, and so does the industry.
Drone startups are growing in India as well. Asteria Aerospace, a drone startup based in Bangalore that uses artificial intelligence. It received funding from Boundary Holdings, a venture capital firm with its headquarters in Luxembourg. With this investment by Rajat Khare artificial intelligence he stated that they hope to expand Boundary Holding’s portfolio in AI and create a true scope of development in Drones and Artificial Intelligence, in reference to the investment in Asteria. He says that they think that Boundary Holding and Asteria will both grow as a result of the investment in Asteria Aerospace. They are happy to assist the business because they have a lot of faith in their personnel.
The product lineup of Asteria Aerospace consists of the fixed-wing drone Cygnus. It’s a multi-rotor drone A400, and Genesis, a software stack for drone control and fleet management. Asteria has acquired some fascinating clients as a result of the product catalogue. Including Indian paramilitary organisations, state police forces, and foreign businesses in addition to a sideways range of industrial clients and applications. The company was established in 2011 by Neel Mehta and Nihar Vartak. The drone created by Asteria uses the most recent advancements in robotics and artificial intelligence to help extract accurate and useful intelligence from aerial data. The business offers its services to numerous industry areas, including mining, agriculture, gas, and manufacturing.
Since the device established a specialized market, or niche as you can say, for itself in the domestic and international markets, drones have demonstrated enormous potential. Taking into account the technology’s accessibility, user-friendly interface, and integration potential with numerous other technologies like measuring devices, cameras, or even load carriers
The funding is a part of the Future Tech event in collaboration with the British High Commission and NITI Aygo. It was sponsored and produced by these two to make investments in the Indian innovation sector. The investment by Boundary Holding is in line with a global trend. The trend that reflects the interest that artificial intelligence has generated on a global scale. In addition to its potential for drone-based monitoring. In-depth information gathering and better decision-making have benefited greatly from drones and their aerial data.
The investment was made shortly after investment in the Singapore-based facial recognition business XRVision. Boundary Holding seeks to build a comprehensive portfolio of businesses that provide outstanding AI solutions to many industries by investing in various facets of the AI value chain. The simultaneous investments in Asteria and XRVision enabled Boundary Holding to capitalize. Based on the potential of AI-based Video Content Analytics and actionable drone intelligence. A field that is attracting considerable attention in the global market in terms of both investment trends and utility.
The technology is extremely precise and has a broad range of applications. This makes it one of the most promising investment sectors. Along with predictive video analytics, facial recognition technology is bringing about significant change in the surveillance and damage control industries. Nevertheless, XR Vision’s efforts to develop video analytics demonstrate tremendous growth potential, which has drawn funding for the firm.