Indian Drone Startup Raphe mPhibr Raises ₹857.5 Crore
In a significant development, Indian drone startup Raphe mPhibr has raised ₹857.5 crore (approximately $100 million) in an all-equity Series B round led by General Catalyst. This funding round marks the largest private capital raise in the country’s aerospace manufacturing sector to date. The news comes at a time when India is intensifying its drone deployment efforts following the recent India-Pakistan conflict, which has triggered a significant spike in battlefield drone usage.
Raphe mPhibr, a Noida-based startup, is a leading player in the Indian drone ecosystem, specializing in the development of advanced aerial platforms for various applications, including defense, agriculture, and infrastructure inspection. The company has gained significant attention for its innovative approach to drone design and manufacturing, which enables it to produce high-quality drones at an affordable price point.
The funding round will be used to scale Raphe mPhibr’s operations, expand its product portfolio, and strengthen its research and development capabilities. The company plans to use the funds to establish a new manufacturing facility, enhance its supply chain management, and increase its sales and marketing efforts.
General Catalyst, a prominent venture capital firm, led the Series B funding round, which also saw participation from existing investors, including Rebright Partners and RTP Global. The funding round is a testament to Raphe mPhibr’s growth potential and its ability to attract top-tier investors.
Raphe mPhibr’s success is a significant milestone for the Indian drone industry, which has been gaining traction in recent years. The Indian government has been actively promoting the use of drones in various sectors, including defense, agriculture, and infrastructure inspection. In 2020, the government relaxed drone regulations, allowing companies to operate drones without prior permission for a limited period.
The drone industry has immense potential in India, with the market expected to grow at a compound annual growth rate (CAGR) of 20% between 2020 and 2025. The industry is expected to reach a valuation of ₹1,500 crore (approximately $200 million) by 2025.
Raphe mPhibr’s funding round is a significant development in the Indian drone industry, which has been witnessing increased activity in recent years. The company’s innovative approach to drone design and manufacturing has enabled it to gain a strong foothold in the market, and its success is likely to inspire other startups in the industry.
The funding round is also a testament to the growing interest in Indian startups, particularly in the aerospace and defense sectors. The Indian government has been actively promoting the growth of startups in these sectors, and the funding round is a significant milestone in this effort.
In conclusion, Raphe mPhibr’s funding round is a significant development in the Indian drone industry, which has immense potential for growth. The company’s innovative approach to drone design and manufacturing has enabled it to gain a strong foothold in the market, and its success is likely to inspire other startups in the industry. The funding round is a testament to the growing interest in Indian startups, particularly in the aerospace and defense sectors.
