Bengaluru-based deeptech startup AlgoFET raises Rs 15 crore from Piper Serica

Bengaluru-based deeptech startup AlgoFET has raised Rs 15 crore in a pre-Series A funding round from Piper Serica, as it seeks to expand the infrastructure used to keep drones operating with limited human intervention. The startup said the raised funding would be used to develop its next generation of autonomous infrastructure products, expand in-house manufacturing and strengthen intellectual property across charging, battery management, docking systems, firmware and fleet software. It also plans to increase deployments in defence and enterprise markets in India and expand internationally, including in the US and Europe. AlgoFET is developing ground infrastructure intended to reduce the manual work involved in recharging and redeploying drones. Its systems combine autonomous docking, battery management, high-power charging, embedded electronics and firmware, and cloud-based fleet monitoring. The startup's technology combines autonomous docking, intelligent charging, battery management and connected fleet monitoring, allowing drones to land, recharge and return to operation with minimal human intervention. AlgoFET claims to have deployed more than 2,000 units and has a pipeline of more than 4,000 units. It also said its order book stands at about Rs 100 crore and that it works with drone manufacturers and the Indian Army. The startup also claims to have established a 12,000 sq ft manufacturing facility and plans to use part of the new funding to expand production capacity, quality systems and working capital.