HoverIt Secures $500k Seed Funding as First Drone Company in UP Defence Corridor
HoverIt, the first drone company in the Uttar Pradesh Defence Industrial Corridor, has secured $500,000 in seed funding, increasing its valuation to over $5 million. Founded in August 2022, the company focuses on high-scale manufacturing and is supported by an advisory board of military and DRDO veterans. Its drones have already been deployed in real-time operations by the Indian Army, with plans for global marketing based on Indian military standards.
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HoverIt, established in August 2022 in Lucknow, has secured $500k in seed funding, boosting its valuation past $5 million. The company is the first drone firm in the Uttar Pradesh Defence Industrial Corridor, focusing on high-scale manufacturing.
Founders Saurav Singh, Ravinder Pal Singh, and Pawan Pandey bring over 20 years of experience in aviation and drone manufacturing. An advisory board of veterans from the Indian military and DRDO supports its operations. HoverIt's drones have been utilized in real-time operations by the Indian Army, with plans to market globally based on Indian military standards.
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