Asteria Aerospace, an Indian AI startup based in Bengaluru that works on drone-based solutions has recently secured funding by Global investment firm, Boundary Holding. Being a robotics and artificial intelligence company, Asteria works on upgrading the current drone ecosystem using deep technologies.
Founded by Nihar Vartak and Neel Mehta, Asteria aims at dispersing drone solutions to introduce new levels of workflow efficiency, along with managing and analyzing data better. The company provides industry-optimized platforms to military, and law enforcement as well as mining, construction, and oil industries. The drone-based solutions by Asteria offer actionable intelligence from aerial data and integrate it seamlessly into operational workflows.
Drones have been able to create their niche market over the years. Integrating next-gen technology with drones has shown great ability to optimize key business processes. Considering the accessibility, easy to use interface, and integration capabilities with multiple other technologies, AI has offered a conduit to turn aerial data into actionable business insight.
The extensive product catalog by Asteria has attracted a mix of clients including Indian paramilitary agencies, state police forces, international companies as well as other industrial applications and clients. The investment by Boundary Holding follows a global burgeoning interest in Artificial Intelligence, besides the technology’s utility in surveillance through drones. Drones and their aerial data are easily accessed and analyzed, that has improved operational efficiency.
“We are very glad to add Asteria Aerospace to our portfolio of investments in Artificial Intelligence. I believe that with this association, Asteria Aerospace is well-positioned to fly higher,” stated Rajat Khare, founder of Boundary Holding.
The firm has been deeply invested in AI startups, making investments in other startups such as XRVision, a Facial Recognition startup based in Singapore. With investments in different parts of the AI value chain, Boundary Holding aims at creating a comprehensive portfolio of companies that offer AI solutions to diverse sectors.
These startups working actively in providing better business solutions, will further help Boundary Holding leverage the potential of AI-based Video Content Analytics as well as actionable drone intelligence from drones. Both these areas are increasingly gaining traction due to their innovative solutions and functionality.
As artificial intelligence redefines industries, the wide-ranging capabilities of the technology have made it one of the most promising fields of investment. With a number of potential benefits, AI startups are being increasingly relied upon to meet the global industrial needs.