India’s IG Drones Secures $1M in Initial Funding to Advance Drone Technology

IG Drones has completed its initial funding round, securing an investment of $1 million at an undisclosed valuation.

This round was led by India Accelerator and various angel investors. Additionally, IG Drones plans to raise another $3 million over the next six months to further expand its operations both in India and internationally.

India's drone market is anticipated to experience significant growth, projected to reach nearly $29.83 billion by 2030, a substantial increase from its 2020 valuation of $345 million. The defense sector is expected to be the primary driver of this growth, highlighting its critical role in the evolution of India's drone market.

IG Drones has been supported by the Ministry of Electronics and Information Technology.

IG Drones specializes in drone manufacturing and R&D, offering services such as surveying, mapping, and inspection. The company has partnered with the Indian Army, multiple state governments, and over 100 large enterprises, executing more than 500 projects.

IG Drones’ flagship product is the AI-powered Jaga drone. The company has also developed India’s first 5G drone and is actively engaged with the defense sector.

Last year, IG Drones also launched the 'IG Military Simulator.’