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Drone startups secure record funding despite slow takeoff

News Snapshot:

Bengaluru/New Delhi: India’s drone industry saw a bumper year in terms of fundraising in 2022, lifted by favourable government policies, increasing use cases, and the first public listing of a company from the sector. Still, adoption of drones remains low in the country, thanks in part to steep costs of equipment and training. According to data from researcher Tracxn, homegrown drone startups raised $39.1 million of equity funding in 2022, more than double compared to $17.5 million in 2021. To be sure, growth was high in 2021 as well at 90%, but that was from a smaller base of $9.2…

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