Grip, an alternative investment platform, has announced that it has become an Indian company to provide lease financing opportunities in drones, to retail investors. Grip and Aarav Unmanned Systems (AUS) entered into a first-of-its-kind unique lease financial deal worth INR 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 an Indian company to develop professional drone solutions for enterprises and get a small category (> two kg weight) drone certification from the DGCA, India. The company was established in 2013 and has so far, mapped more than five 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, etc. Under this deal, Grip will enable AUS to build new revenue streams by leveraging lease financing for more than 50 drones.
Commenting on the announcement, Nikhil Aggarwal, CEO and Founder, Grip said, “India’s commercial drone market has grown leaps and bounds in the past few years witnessing growing adoption across several verticals such as mining, filming and photography, and agriculture in the country. We are super excited to facilitate a first-of-its-kind lease financing deal to help scale India’s drone segment. AUS is a leading company in drone manufacturing and provides services like surveying, mining, mapping, etc. We are committed to establishing Grip as a platform that provides alternative sources of capital for high-growth companies like AUS.”
Commenting on the partnership with Grip, Vipul Singh, CEO and Co-founder, AUS said, “Drones are fast becoming a vehicle of development and financial inclusion in India. Our drones are making an impact on some of the largest mining and metal brands and large-scale infrastructure players in India, including Tata Steel, Hindalco, NTPC, Coal India, and others. We are 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.”