Technology & Electronics
Vecros
SEASON 3 : Episode 10
BRAND
Vecros
COMPANY NAME
Vecros Technologies Private Limited
FOUNDERS
Besta Prem Sai, Rajeshree Rajesh Deotalu
ORIGNAL ASK
1 crore for 2.5% equity at the valuation of Rs. 40 crores
DEAL
20 lakhs for 1% equity at the valuation of Rs. 20 crores and 80 lakhs debt at 10% interest for 3 years
Athera stands as an autonomous drone offering advanced features such as waypoint flying, powered by a high-performance 21 TOPS chip. With obstacle sensing capabilities, intelligent following, and a maximum flight time of 35 minutes, Athera ensures efficient and precise operations. Its auto take-off and landing functions, coupled with 4K high-definition image quality and 5cm position accuracy, contribute to its versatility and reliability. At the core of Athera’s capabilities is the VECROS Cloud service, seamlessly integrated into every VECROS device. This connected device solution provides a secure repository for all data, including photos, videos, projects, and files. Users benefit from 5GB of free VCS Drive storage, ensuring their information remains safe and up-to-date.
These solutions find application across various sectors, including mapping, agriculture, construction, oil and gas, and transportation. The versatility of Athera positions it as a valuable tool for diverse industries, offering cutting-edge technology for mapping terrain, optimizing agricultural practices, facilitating construction projects, and enhancing operations in oil and gas and transportation sectors.
Founders & their story
- Besta Prem Sai
- Rajeshree Rajesh Deotalu
Vecros, a pioneering player in the drone industry, showcases its flagship product, Athera, as the hero of the pitch. Athera stands as India’s first self-flying spatial artificial intelligence drone, revolutionizing applications in construction, railway bridges, inspection monitoring, and disaster relief. Addressing the inefficiencies of manual data collection, Athera offers a solution that is both time-efficient and accurate, mitigating the risk of injury.
Featuring eight cameras and a processor with a computing power of 21 trillion operations per second, Athera boasts a 360-degree view and obstacle avoidance capabilities. For confined spaces, Vecros plans to launch Jasper, an autonomous AI drone leveraging computer vision-based technology. Rajashree, a graduate of NIT Nagpur from Maharashtra, and Prem, an IIT Delhi alumnus from Andhra Pradesh, co-founded Vecros. The company’s unique selling points lie in the miniaturization of their drones and an advanced operating system.
In the drone market, Vecros caters to various applications, including surveillance, mapping, inspection, and defence. The founders’ innovation caught the attention of a leading US drone company, which offered 15 crores for a 70% equity stake in Vecros. Currently, Vecros is in the process of raising 2 crores at a post-money valuation of 22 crores. This ongoing investment underscores the industry’s recognition of the potential of Vecros to redefine drone technology and its applications.
About the company
VECROS, born from an IIT Delhi student group, now leads the forefront of drone innovation, specializing in autonomous flight technology. Their intelligent flying machines, powered by Spatial AI, cater to diverse sectors, including consumer, enterprise, and government applications. Innovating beyond traditional boundaries, VECROS engineers machines previously deemed implausible. Their software and hardware enable drones to operate autonomously in GPS-denied environments without relying on pre-existing infrastructure.
Backed by esteemed investors and strategic partners such as IIT Delhi, NSRCEL-IIMB, STARTUP OASIS, 100xVC, and NVIDIA, VECROS is recognized for its commitment to cutting-edge products and innovation across various industries. Originally a small student group at IIT Delhi, VECROS has evolved by combining dynamic control principles with sophisticated mechanical designs, cutting-edge electronics, and advanced software for perception, navigation, and intelligence. The technical team, comprising engineers and scientists, seamlessly blends analytical thinking with bold engineering, taking pride in constructing machines that redefine the boundaries of robotic technologies once deemed impossible.
With a mission to transform the world through innovative, efficient, and safe autonomous flight technology, VECROS envisions a future where their groundbreaking solutions contribute to a new era in aerial robotics.
Revenue
Vecros, a pre-revenue company, has successfully raised 1.3 crores to date. The company operates on two revenue models: the Enterprise model, where clients receive the complete package including the drone and operating system, and the Drone as a Service model. As of September 2023, Vecros recorded a revenue of 9 lakhs. The price of their product, excluding payload, is set at 15 lakh rupees. Despite being in the early stages, Vecros has achieved a gross profit of 9 lakhs, demonstrating the viability and potential profitability of their business model. These revenue streams and financial indicators highlight Vecros’ innovative approach to the drone industry, positioning them as a promising player in the evolving landscape of autonomous aerial technology.
Founders’ Ask
1 crore for 2.5% equity at the valuation of Rs. 40 crores.
Offers:
Aman: 10 lakhs for 1% equity at the valuation of Rs. 10 crores and 90 lakhs debt at 10% interest for 3 years.
Aman’s revised offer: 20 lakhs for 1% equity at the valuation of Rs. 20 crores and 80 lakhs debt at 10% interest for 3 years.
Founder’s Counteroffer
To increase the valuation to 20 crores meeting the last round of funding.
Final Deal
Aman: 20 lakhs for 1% equity at the valuation of Rs. 20 crores and 80 lakhs debt at 10% interest for 3 years.
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