Business Category: Services
Founding Year: 2014
Startup Stage: Revenue Generation
Support Required: Funding Mentoring Office Space
Fund requirement (): 50000000
Structure of the Company: PVT Ltd.
Executive Summary: EduRade through its research and development wing – Drones Tech Lab – manufactures and supplies drones to farmers to monitor and develop their crop yields, industrial drones for mining surveys, map growth, infrastructure inspections & planning for building, power lines, pipelines etc along with 2D & 3D mapping. It also provides surveillance & combat drones to defense organizations and automated drones to the health industry.
Market need: Absence of an unique organisation that caters to the customized drones need of ever growing demands in agriculture, health, defense industry. Automating tasks through specially manufactured drones to maximize results for any industry involving very little human intervention as well as creating an environment and providing opportunity to youths to develop their application oriented skills by involving in live projects that we bag for several private as well as government organisations.
Product/Service description: We at EduRade are primarily engaged in manufacturing and supplying drones to farmers (with automated agriculture systems to monitor and develop their crops yields), Defence Organizations (Surveillance & Combat Drones) ,Health (Pilot run in Kolkata to transfer emergency med help) and other allied activities and solving those problems through automated drones. Moreover as stated earlier we are currently serving a Defence tender worth INR 22 Lakhs to build a unique state-of-art UAV Laboratory under DRDO. Moreover Transforming classroom education pedagogy by introducing hands-on learning methods with dedicated range of products.
Customers/Users: $18.4 billion: Estimated size of small drone market in 2019 (Source: ABI Research) growing by a CAGR of more than 52%. 170,000: Estimated number of drones in commercial use by 2020 (Source: Markets and Markets). The drone industry as a whole is growing by over 73%. (Source: business insider) We have scaled till today with growth rate of around 150% taking account of our market presence period. We have planned to grow in a minimum average steady growth rate of 60 %. Target Customer : Government and Defence organizations. Forest and Civil Departments. Oil and gas exploration & mining. Remote sensing & communications. Civilian & commercial purposes. Engineers passing out each year – roughly 15 lakhs. 7000+ engineering colleges in INDIA. 1.3 million schools in India.
Revenue Model: We have been bootstrapping since three years and that has been possible due to the validation of our sales funnel and decreasing the sales cycle lead conversion time to a great extent owing to our unique way of generating revenue through our training programs and diverting a healthy percentage of this amount to our Research and Development Wing to solidify and strengthen this wing.
Current traction: We are into existence from last 3 years having drones for Defense Surveillance, Agriculture, Forest Departments and Health (pilot run) and presently we are serving a defense tender and have trained over 7000+ students pan India. About our media presence and awards bestowed upon us :- Winner - Ideas to Implementation 2017 - IIM Calcutta's Flagship Business Plan Competition. Top 3 Business Idea for Eastern Region - ABP news Haywards 5000 Hausla Buland Academy. Top 7 Business Idea - Kolkata TiECON'15. India's Top 25 Start Up - TATA First Dot'15. Unique Entrepreneurial Initiative - Public Relations Society of India. Pilot Projects mentioned in The Statesman. Featured in prominent print media and online media - Economic Times, Times of India, The Telegraph, Sandesh, Your Story, Inc 42, Divya Bhaskar, Hindustan, Dainik Jagaran. Website : www.edurade.com Workshop Videos : www.youtube.com/c/edurade https://www.facebook.com/edurade/ https://plus.google.com/+EduRade https://twitter.com/edurade_india https://www.linkedin.com/company/edurade https://www.instagram.com/edurade_india/