Hotline: 1800 102 2007
X
Search Business Opportunities
Dec, 24 2018

Zuppa looks to raise Rs 100 crore for expansion

The company's move comes after the government issued new regulations on the use of drones by private citizens, lifting a previous ban.

Drone manufacturer Zuppa, owned by Chennai-based Sree Sai Aerotech Innovations Pvt Ltd (SSAI), is looking to raise about Rs 100 crore in the next few months to fuel its expansion plans. The company's move comes after the government issued new regulations on the use of drones by private citizens, lifting a previous ban.

Zuppa is planning to use the funds to scale up its existing products, penetrate existing markets, develop newer applications for its core drone technology and expand the base for its Vehicle Tracking and Telematics Systems (VTS).

Sai Pattabiram, Founder of Zuppa, said, "Our bankers have identified few VCs and strategic investors and we look at closing the funding round in the next two quarters. The company has already raised Rs 6 crore from IndiaNivesh Special Situations and Growth Fund and MapMyIndia, a GPS navigation and tracking solution provider."

"The company is now ready to expand the drone technology space after the Director General of Civil Aviation (DGCA) came out with a new set of regulations in August and which came into effect from December 1," he added.

Comment
image
Related opportunities
  • Gyms and Fitness Centres
    About Us: Trugym is an innovative gym operator from the UK...
    Locations looking for expansion Delhi
    Establishment year 2009
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Mobile & Communication/Internet Connections
    About Us: In 2009 Gerardo Taglianetti, founded Phonup amongst first companies  in..
    Locations looking for expansion Delhi
    Establishment year 2009
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Ice creams & Yogurt Parlors
    Gujarat's fastest emerging chain of  Fruit and Juice Bar is..
    Locations looking for expansion Gujarat
    Establishment year 2011
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Fashion Accessories
    About Us: An affordable luxury brand with sustainability as one of..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities