Bengaluru-based Skylark Drones has secured $3 million in a pre-series A funding round to strengthen its product offerings and fuel international expansion.
The funding round was co-led by investors InfoEdge Ventures and IAN Fund with participation from AdvantEdge Founders, Fowler Westrup, Redstart Labs, IKP and Vimson group, the company said in a statement.
The company will primarily use the new funding to enhance the actionable insights from drone data that it provides, in order to aid and simplify superior business decisions and strategy for its clients. The investment will also be used to spur international product expansion and development of its drone data analytics products, the statement added.
This follows the company’s previous seed funding round, which took place in 2018.
Skylark Drones, which has offices in the USA and India, aims to elevate worksite productivity and safety by providing geospatial intelligence to different enterprises in sectors such as mining, solar power, real estate, agriculture and inspection.
The company which was founded in 2014 by Mrinal Pai, provides its clients with the ability to use (artificial intelligence) AI-powered technology products such as Spectra and Drone Mission Ops.
“Skylark has built an indigenous platform that facilitates quick mobilization of independent drone pilots, enabling them to run drone missions to gather aerial images of large worksites. Skylark’s computer vision software analyses this aerial imagery to offer industry specific insights for its mining, solar and construction clients.
Being amongst a limited set of players who have a full-stack offering, we believe that the opportunity for the company is global,” Amit Behl, partner at Info Edge Venture Fund, said.
Delhi-based MyMobiForce (Innotion Technologies Pvt. Ltd.) has raised $1.42 Million (Rs 10.3 crore) as part of its pre-Series A round of funding led by Bharat Inclusion Seed Fund.
Group of Angels led by Manu Iyer of Bluehill Capital, Acsys Investments and Ashutosh Agrawal (Ex-Urban Company) also participated in the round, the startup said in a statement.
In May 2019, MyMobiforce received an angel funding of $200,000.
MyMobiForce was set up in 2018 by Dheeraj Khatter, Himanshu Kumar, and Kshitiz Saini. The company is an AI-powered crowdsourcing platform which empowers businesses to scale by providing on-demand field technical workforce in a plug and play fashion.
MyMobiForce, which claims to provide services to marquee brands has completed over 2 million jobs through its platform. It said that it has a resource pool of 50,000 technical gig workforce across 8,000 pin codes in India.
“MyMobiForce has grown 2x during the Covid times and has managed to scale the operations to support 100 Plus customers. We will use the capital raised to skill and empower additional 20,000 Service Technicians across 10,000 pin codes,” the founders said in a joint statement.
“India is still among the least penetrated flexi staffing markets globally with merely ~0.5% of the workforce employed in a flexible manner as against 3-4% globally. With the increasing formalisation of the economy, GST, labour law reforms, Covid and increasing number of enterprises shifting to flexi-staffing, Crowd sourced platforms are poised for the next leg of growth over the long term.
We are really excited to partner with MyMobiForce; the company has built a world class platform that allows businesses to digitally connect, skill, monitor and empower field workforce to complete technical jobs,” Sanjay Jain, partner at Bharat Inclusion Seed Fund, added.
Grey Swift Pvt. Ltd, which operates digital business documentation platform Leegality, has raised pre-Series A funding led by IIFL Securities Capital Enhancer Fund.
Existing investors including Mumbai Angels also participated in the round, the company said in a statement.
While the funding amount has not been disclosed, Leegality will be using the freshly infused capital to expand its team in key departments to accelerate product development and deepen enterprise adoption of its solution.
Bengaluru-based Leegality raised an undisclosed amount in a round led by Mumbai Angels Network in June 2019.
It was also a part of the first cohort of legal-tech incubator Prarambh.
Founded in 2016 by Shivam Singla, Prakhar Agarwal and Sapan Parekh, Leegality's eSign, eStamp and Document Workflow Platform enables businesses to sign and manage their paperwork with customers, vendors, employees, investors and other stakeholders in a faster, easier and more legally compliant way.
“This funding round is a great vindication of the efforts of our wonderful team so far, and will provide us further fuel to grow exponentially in the war against paper. We have managed to solve a very hard and important problem within a short span, and have created an entirely new product category in the Indian market,” Singla said.
PeakPerformer, a coaching platform for managers, has raised an undisclosed seed funding from global venture capital firm Antler India.
Gaurav Munjal (co-founder and CEO, Unacademy Group) and Saket Agarwal (Angel Investor and Founder, Onnivation) also participated in the round, the company said in a statement.
PeakPerformer will use the funds towards hiring engineering talent to scale its AI platform and expanding its pool of Indian and global customers, the statement added.
Founded by second-time founders Aishwarya Goel and Gaurav Jhunjhnuwala, PeakPerformer is a tech-enabled leadership development platform that helps companies upskill leaders at all levels.
Since the launch of the platform nine months back, PeakPerformer claims to have delivered metric-moving outcomes to companies like Mobile Premier League, Wingify, Urban Ladder, Bizongo, Groww and Societe Generale among others.
“There are 90 million plus managers globally but only a handful of CXOs are getting coached for their jobs. I think it’s high time that this should change. With PeakPerformer, we are reskilling employees and helping companies promote home-grown managers to leadership roles instead of depending on lateral hires. The initial response has been very motivating,” Goel said.