The Story of Inside FPV: From a Hostel Room to Shark Tank India

Introduction

Drones are unmanned aerial vehicles that can be used for various purposes such as photography, videography, agriculture, surveillance, delivery and entertainment. However, drones are still not very popular or accessible in India due to high costs, lack of awareness and regulations. Inside FPV is a startup that aims to change this scenario by providing affordable, customized and ready-to-fly drones for Indian consumers.

Founders and History

Inside FPV was founded by three engineering students from VIT Vellore: Oshi Kumari, Arth Chowdhary and Devyant Bhardwaj. They were passionate about drones and wanted to share their hobby with others. They started making drones in their hostel room and selling them online. They also participated in various drone competitions and events across India. They registered their company as Inside FPV Ventures Pvt Ltd in 2022 and got recognized by the Government of India as a startup under DPIIT. They also got incubated by VITTBI.

Business Model

Inside FPV sells drones to consumers, agriculture and defence sectors at every altitude. They claim to be India’s first company to provide plug-and-fly FPV (first-person view) drones where customers just have to plug the battery in the drone and fly it. They also offer customized drones according to the customer’s requirements and preferences. They have an online store where they sell various types of drones, accessories and parts. They also provide after-sales service and support.

Products and Services Inside FPV has a range of products for different segments of customers. Some of their products are:

• BIR: A beginner-friendly drone that comes with stability mode and GPS integration1.

• QT Whoop: A tiny and lightweight drone that can fly indoors and outdoors1.

• Citrya: A compact and agile drone that can perform flips and rolls1.

• Vidyut: A powerful and fast drone that can reach speeds of up to 150 km/h1.

• Dheer: A durable and versatile drone that can withstand crashes and fly in different terrains1.

• Advik: A smooth and stable drone for capturing stunning aerial videos

• Krishi: A robust efficient drone for improving crop yields and sustainability in modern agriculture

Market Opportunity

The global drone market is expected to grow at a CAGR of 20% from 2020 to 2027. The Indian drone market is also expected to grow rapidly due to increasing demand from various sectors such as agriculture, defence, e-commerce, entertainment etc. However, there are still many challenges such as high costs, lack of awareness, regulations etc. Inside FPV aims to overcome these challenges by providing affordable, customized and ready-to-fly drones for Indian consumers.

Financials and Funding

Inside FPV has not disclosed its revenue or profit figures publicly yet. However, they have claimed that they have sold over 5000 drones so far. They have also received funding from various sources such as:

• Inside FPV got Rs 75 lakh for 15% equity from four sharks Peyush Bansal (Lenskart), Namita Thapar (Emcure Pharmaceuticals), Amit Jain (Cardekho) and Aman Gupta (Boat). The company valuation was Rs 5 crore. The founders initially asked for Rs 75 lakh for 4% equity but agreed to the counter offer by the sharks. on Shark Tank India Season 2 Episode 13.

• Rs 25 lakh grant from Startup India Seed Fund Scheme.

• Rs 10 lakh grant from Atal Innovation Mission.

Impact and Future Plans

Inside FPV has made a positive impact on the Indian drone ecosystem by providing affordable, customized and ready-to-fly drones for Indian consumers. They have also created awareness about drones among the masses through their online presence, events etc. Their future plans include:

• Expanding their product portfolio with more innovative features such as AI-based obstacle avoidance etc.

• Scaling up their production capacity with more machines etc.

• Exploring new markets such as education sector etc.

Competition

Conclusion

Inside FPV is a startup that provides affordable, customized and ready-to-fly drones for Indian consumers. It was founded by three engineering students who were passionate about drones. It sells drones to consumers, agriculture and defence sectors at every altitude. It has received funding from various sources such as Shark Tank India, Startup India Seed Fund Scheme etc. It has made a positive impact on the Indian drone ecosystem by providing affordable, customized and ready-to-fly drones for Indian consumers.