HoverIt Secures $500k Seed Funding as First Drone Company in UP Defence Corridor
DEFENSE
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.
Jan 16, 2026, 9:24 PM
