Flying Wedge Defence & Aerospace

Deep Tech: India's first 85% indegenized Agri Drone manufacturer
Reports and Documents

INR 4Cr

Total Round Size

CCPS

Mode

₹ 5 Lacs or USD equivalent.

Minimum Ticket Size

INR 99 Cr (Pre-money)

Previous Rounds Details
Raised INR 2.3Cr from US Angels in 2023 at INR 63Cr valuation Pre money.

About the Opportunity

Company Overview

Opportunity to invest in a revolutionary Drone Tech startup which takes technology into the hands of the small-medium farmers of India creating transparency in the agri-ecosystem right from pre-to-post-harvest stage.

The drone is fully modular, light weight in terms of design and can be packed inside a food delivery box unlike competitors.

85% Indigenisation achieved so far and proud to be Made In India Product.

The Main USP of this 10 L drone which is built is the crop yield has increased by 32% which is proven by ICAR, ICMR and Agri Universities.

Cutting edge technology to scale the business by providing a complete digital crop advisory via smartphones. IoT, AI/ML available to farmers on a premium
model at a later stage.

Profitable start up poised to grow at 40x growth with Pan India dealers, distributors and service centres.

The Tech moat is based on the knowledge of spraying 100,000 acres across various crops, to understand the dilution ration, volumetric ratio, different
seasons, fertiliser and water combinations, and various spray techniques.

Operating in crops like Millets, Paddy, Potato, Vegetables, Banana, Corn & many more in the state of Karnataka, southern Maharashtra and parts of AP.

Operating in Agri-inputs and precision agriculture with a scope to integrate output market linkages in the future as well.

With an overall market size of $400 Billion & $10 Billion in drone spraying in India alone, specifically, the penetration is only 13%. The headroom for growth
is tremendous. The current market has a lot of vacuum in terms of regional penetration, Quality of Drone, Parts availability.

Company has successfully created a unique drone with manufacturing process asset-light along with a tech stack to build a very strong & sustainable business model.

Company has crossed a cumulative turnover of 3.7 Cr (FY24) since inception. Farmer base of more than 5000 farmers, 3 Large distributors and small 10 channel partners are on-boarded.

Order book for FY25 is 40 crore ad FY26 is close to 75 crore. Revenue for the first quarter is approx. 5.3 crores.

Air Worthiness Certification from Aviation industry apart from DGCA Type approval for the Drone and NBAL certifications for Parts.

Customer support/ tech support across India covering 19,000+ Pin Codes with 33,000 technical personnel on the ground.

Software outcomes

95% reduction in errors and technical compliances before, during and after flying.

45% reduction in time due to management and co ordination during flying 90% reduction in Mission Planning time.

6x savings in operational costs
Ground Control and all consoles in-house.

Business Model

60% Business from B2B2C – Dealer Model is running operational for the past 2 years.

25% Business from B2B – Agri spraying DAAS.

10% Business from B2G – Engaged distributors, who work on Govt tenders and Flying Wedge are their Tech Partners.

5% Business from B2C for Training to commence shortly (orders being booked).

Team
All the founders have seen one exits with Mr. Narasimham who has seen two exits in his tenure. Mr. Suhas and Mr. Prajwal are BTech Electronics and Communication background,  Narasimham is BE Civil with MBA in Finance, has proven 2 exits in his kitty.
Current Business / Market Opportunities / Traction

Current Business

FY 24 = INR 3.7Cr
FY 25 = INR 45Cr order for drone sale booked. INR 60Cr order for DAAS booked.

● Gross Margin is 60% in Service and 35% to 40 % in Drone sale.

● ITC, Ninjacart, Dehaat Partnerships expected this year for growth.

● 200 FPO already working with us since inception.

● Exports have started to US Markets, very soon to African markets.

● Qualified for Production Linked Incentive scheme (PLI), this year shall leverage the same.

● Empanelled in various government schemes for qualification for drone subsidy

Other Revenue to kick in 2024-25

• Parts Business from other drone players

• Drone Schools Set up

• DIDI drone scheme

Summary

Total Round Size: INR 4Cr

Open for SAN Angels: INR 1Cr

Minimum Ticket Size: Rs. 5 Lacs in INR and USD equivalent

Valuation: INR 99CR (pre-money)

Mode (CCPS / Equity): CCPS

Details of commitment received for this round: INR 2Cr from other angel investors and already invested.

5 1 vote
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x