India Dealbook: Aarav Unmanned Systems, InnerSense, PictureTime raise funds

Drone technology firm Aarav Unmanned Systems, lingerie brand InnerSense and mobile cinema startup PictureTime have received funding.

Drone tech firm Aarav Unmanned Systems raises pre-Series A round

Drone technology startup Aarav Unmanned Systems (AUS) has raised an undisclosed amount of funding from growx ventures, 500 Startups, which invested through its 500 Durians (SEA fund) and BellWether Advisors.

The Bengaluru-based company’s pre-Series A funding round also saw participation from existing investors StartupXseed, 3ONE4 Capital, and Sanjay Jesrani, aided by ‘Enablers’ (an undertaking of ValPro).

According to an official statement, AUS plans to use the funds raised in this round to expand its business reach and for R&D.

“The new funding round shall help us penetrate deeper in our existing market, expand to some tough-to-crack and large potential applications in the near future, and establish a roadmap for applications in logistics and urban mobility market, which is our ultimate long-term goal,” said Vipul Singh, CEO of AUS.

AUS currently provides solutions to the mining, urban planning, roads, and railway sectors with 3D mapping and surveying solutions.

Venture Catalysts leads funding in lingerie brand InnerSense

Lingerie brand InnerSense has raised around Rs 2.5 crore ($385,000) in a pre-Series A round from a clutch of investors led by accelerator and incubator Venture Catalyts.

Angel investors Dharmesh Dalal, Vijay Lakhani and Matulya Shah also participated in the round through Venture Catalysts.

Founded in 2014, Ahmedabad-based Inner Sense sells antimicrobial lingerie and claims that it does not use any synthetic material.

The company plans to use the funds raised to expand its product portfolio and invest further in innovation.

Mobile cinema startup PictureTime raises $3.8m

PictureTime, a mobile digiplex cinema theatre startup, has raised Rs 25 crore in a funding round led by Ajay Relan, founder chairman of CX Partners.

According to a report in The Economic Times, the pre-series A financing round involved around 30 per cent equity, valuing the company at over Rs 80 crore.

The Delhi-based company earlier raised seed funding from PictureTime Chairman Rohit Chand, Ashish Gupta and Sanjeev Agrawal of Helion Ventures, Asim Ghosh (ex-Vodafone India CEO) and Abhinav Sinha of Eight Roads Ventures.

Founded in October 2015, Picture Time introduced its first mobile digiplex cinema theatre unit last year.

According to the news report, PictureTimes plans to expand its mobile Digiplex cinema theatres to 100 operational units by March 2019 from the current 10 units.

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