Micro-drone tech startup Urbanmatrix raises Rs.1.2 Cr from Sara Elgi, others

Bangalore-based drone technology startup Urbanmatrix has raised INR 1.2 crore from Coimbatore-based Sara Elgi, part of Elgi Group, and businessman Laxminarayana. The funds will be used to strengthen research and development, deepen market penetration, and deliver industry-oriented solutions across verticals. Sara Elgi has a presence in more than 15 countries and will help UrbanMatrix with international expansion. Urban Matrix Technologies specializes in micro drones and enables industries to leverage the power of aerial data by building compliant drone hardware, along with proprietary software solutions.