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Drone manufacturer Zuppa is planning to raise about ₹100 crore in the next few months to fuel its expansion plans. The company’s plans come after the government recently issued new regulations on the use of drones by private citizens, lifting a previous ban.
Zuppa, owned by Chennai-based Sree Sai Aerotech Innovations Pvt. Ltd. (SSAI), plans to use the funds to scale up its existing products, which have been developed using its proprietary technology. Also on cards are penetrate existing markets and developing newer applications for its core drone technology and expanding the base for its Vehicle Tracking and Telematics Systems (VTS)
“Our bankers have identified few VCs and strategic investors and we look at closing the funding round in the next two quarters,” Zuppa’s founder Sai Pattabiram told BusinessLine adding that the company has already raised ₹6 crore from IndiaNivesh Special Situations and Growth Fund and MapMyIndia, a GPS navigation and tracking solution provider.
Pattabiram said that the company is now ready to expand the drone technology space after the Director General of Civil Aviation (DGCA) came out with new set of regulations in August and which came into effect from December 1.
The regulation classifies remotely piloted aircraft (RPA) or drones as nano, micro, small, medium and large along with the do’s and dont’s of flying them.
Pattabiram said that Zuppa designs and manufactures its drones in India and also has a global patent for the drone technology. The company is in the process of manufacturing an aeroplane-like drone (about one meter long) that can be used in mapping and monitoring agricultural land. Pattabiram said such drones can monitor 1,000 acres in just one flight.
The DGCA regulations allow citizens to fly small drones (with payloads of up to 2 kg) without a Unique Identification Number (UIN) or permits as long as they are in enclosed or unrestricted airspace and stay below an altitude of 60 metres.
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