Drone startup Urban Matrix raises Rs.6-Cr led by IPV

Bangalore-based drone technology startup UrbanMatrix Technologies has raised INR 6 crore from Inflection Point Ventures (IPV). The new funds are to be used for product development, team expansion, and venturing into new markets. Founded in 2019 by a team of IIT graduates, namely Rishabh Verma, Ashutosh Kumar, Divyanshu Pundir, and Ajay Karthik, UrbanMatrix aims to develop industrial drones and drone-related software applications for sectors such as surveying, surveillance, agriculture, AI-driven inspections, and defense.