Venture Catalysts Leads Seed Funding Round In Drone Infra Startup NxtQube

Venture Catalysts, India's integrated incubator and accelerator platform, said that it lead investment in a seed funding round for NxtQube, a drone infrastructure company. The round also saw participation from Pontaq VC (STPI NxtVentures), Ananta Bizcon LLP, Rushikesh Bhandari, and other angel investors, marking a significant milestone in NxtQube's journey to revolutionize drone operations.

Founded in April 2022, NxtQube claimed that it is at the forefront of developing complementary automation solutions for drone manufacturers, service providers, and end users. The company further claimed that its flagship product, a universal drone docking station, is set to transform the drone industry by resolving the need for on-field pilots for surveillance, monitoring, and logistics drone operations.

NxtQube's universal drone docking station is a robotic enclosure capable of performing pilot activities, including drone landing and take-off, flight monitoring, drone charging, and data extraction. The modular design allows integration with various drone categories from different manufacturers, making it a versatile solution for the industry, as per the company’s press release.

Commenting on the investment, Apoorva Ranjan Sharma, Co-founder, and Managing Director of Venture Catalysts, said, “NxtQube's innovative approach to drone infrastructure aligns perfectly with the rapidly evolving drone ecosystem. Their universal docking station has the potential to significantly reduce operational costs and increase efficiency in drone deployments. We believe NxtQube is well-positioned to become a global leader in drone infrastructure, catering to the growing demand for autonomous drone operations across various sectors. What particularly excites us is the scalability of their solution and its potential to revolutionize industries beyond just drone operations.”

NxtQube operates on a business model that combines capital expenditure for the docking stations with subscription and perpetual license options for the software. The company aims to cater to the 2 million drones in the defense and enterprise sectors across Asia Pacific, Europe, and US markets, focusing on applications requiring autonomy intervention.

Nikhil Rajput, Co-Founder & CEO of NxtQube, expressed enthusiasm about the funding, “Our technology is designed to complement the existing drone ecosystem, providing a solution that enhances efficiency and autonomy. This seed round is a testament to the market's recognition of the critical role infrastructure plays in scaling drone operations. With the support of Venture Catalysts and our other investors, we are poised to accelerate our product development and market expansion.”