Odisha-Based Startup BonV Aero Tops Global Pitch Competition, Bags Rs 14-Crore Prize Money

Bhubaneswar: BonV Aero, an Odisha-based startup company which manufactures logistics drones, has struck it rich by emerging as global winners of ‘Meet the Drapers – Season 6’, the world’s largest pitch competition.

A leading deep-tech manufacturer of drones in the defence and aerospace sector, BonV Aero became the first Indian company to win Rs 14 crore prize money in a US TV reality show.

The panel of judges at Meet the Drapers included venture capitalist Tim Draper and family, renowned for their early-stage investments in groundbreaking companies like Tesla, Space X, Hotmail, Skype and 25 other unicorns.

“We are thrilled to have secured the top prize at Meet the Drapers, which underscores our dedication to excellence and innovation in the defence and aerospace sector. This success is a testament to the hard work and vision of our team and it reinforces Odisha’s growing prominence on the global entrepreneurial stage,” said BonV Aero’s co-founder & CEO Satyabrata Satpathy.

“Tim Draper’s endorsement of this innovative approach and vision is a tremendous honour. This recognition further validates the mission to revolutionise logistics through cutting-edge drone technology,” said the Dr Barada P Panigrahy, CEO, SSU Innovation Foundation, Sri Sri University.

Hailing it as a victory for the startup ecosystem in Odisha, Executive Chairman of Startup Odisha Omkar Rai said BonV Aero’s achievement is a “global validation” which will inspire all.

“We are happy that Startup Odisha is growing and we consider BonV Aero’s success as ours. I am happy to share with you that a strong base of human resources and technical knowhow is being developed in Odisha, which will help future startups in the field of Drone tech and aviation,” said Rai.

BonV Aero’s carbon-free, zero-emission aerial vehicle will play an important role in India’s journey to Net Zero in 2070, said CTO and co-founder Abinash Sahoo.

“The company has successfully delivered advanced logistics drones to the Indian Army, showcasing its capability to operate in high-altitude and challenging environments, including altitudes above 10,000 feet,” informed Sahoo.