Drone tech startup AUS inks Rs. 3.75-cr lease financing deal with Grip

AUS is the first Indian company to develop professional drone solutions for enterprises and get a small category (more than 2kg weight) drone certification from the DGCA, India. The company was established in 2013 and has so far, mapped more than 5 million acres, 15000 villages and 35 cities. It has further covered more than 250 mines and 350 stockyards for mining, metal, and power companies like Tata Steel, Hindalco, and Coal India. Under this deal, Grip will enable AUS to build new revenue streams by leveraging lease financing for more than 50 drones

Mumbai: Grip, an alternative investment platform, has announced that it has become India's first company to provide lease financing opportunities in drones, to retail investors. Grip and Aarav Unmanned Systems (AUS) entered into a lease financial deal worth Rs 3.75 crore that paves the way for retail investors to invest in the growing drone ecosystem in India. Further, Grip also unlocks a new revenue stream for promising businesses in India's drone segment by leveraging lease financing options.

AUS is the first Indian company to develop professional drone solutions for enterprises and get a small category (more than 2kg weight) drone certification from the DGCA, India. The company was established in 2013 and has so far, mapped more than 5 million acres, 15000 villages and 35 cities. It has further covered more than 250 mines and 350 stockyards for mining, metal, and power companies like Tata Steel, Hindalco, and Coal India. Under this deal, Grip will enable AUS to build new revenue streams by leveraging lease financing for more than 50 drones.

Talking to Bizz Buzz, Ankit Goyal, Vice President and Head of Business Development, Grip, said, "It is unique for a simple reason that never before a drone has been leased finance. It is the first time that equipment like a commercial drone has been financed using the leasing model. Therefore, it is the first of a kind partnership between Grip and AUS."

Does Grip offer other lease financing options? Replying to this query, Ankit said yes, we have various kinds of financing options. To give you a broad understanding, we have financed electric vehicles and infrastructure, IT equipment, cloud kitchen equipment, among others. We have also worked with rental companies like Furlenco, Rentomojo. Any kind of movable fixed assets, which is not attached to the land can be financed using a lease financing model.

Grip is also a key player for the SVAMITVA scheme of the Ministry of Panchayati Raj, for the digitization of land records in rural India. The drone sector is growing in leaps and bounds, and we are happy to partner with Grip to provide this investment opportunity to retail investors, he said.

India's drone segment is projected to grow at a CAGR of 12.4 per cent by 2025 and reach a value of $5 billion. Mapping and surveying holds the majority of revenue share due to the high accuracy and quality provided by such drones with relatively less manpower and low cost. Additionally, government initiatives such as the Make in India, which promotes the domestic manufacturing of drones, are fuelling the growth of the commercial drone market in India.

Replying to a query, Vivek Gulati, Co-Founder & COO, Grip, said: "We are trying to work with other partners in the drone segment apart from AUS. We are also working with a couple of other companies in India which are into the drone segment. Our product is specialized in Indian products as of today, and given the agenda that drone is a new industry, founders of these companies are still looking for funding. We are happy to help other drone players as well. One of the AUS founders is a coach with the DGCA and that helps us in making the right connection in the drone industry itself."