Indian drone developer Raphe mPhibr raises $100M
Raphe mPhibr makes its drones from light carbon-fiber composites that have a high strength-to-weight ratio. | Source: Raphe mPhibr
Raphe mPhibr Pvt. Ltd. last month said it has raised $100 million in Series B funding. The company plans to use the investment for research and development as well as local production capabilities as drone usage increases on battlefields and for border surveillance.
“We are proud to join forces with Raphe mPhibr on their transformative journey to redefine engineering-led manufacturing across a spectrum of critical applications,” asserted Neeraj Arora, a managing partner at General Catalyst, which led the round. “What sets this team apart is their unwavering, mission-driven ethos, coupled with an expansive vision and formidable technological depth.”
Siblings Vikash Mishra, now the chairman, and Vivek Mishra, now the CEO, co-founded Raphe mPhibr in 2017. The Noida, India-based company currently offers nine different drones with payloads ranging from 4.4 to 441 lb. (1.9 to 200 kg).
The uncrewed aerial vehicles (UAVs) can cover an average distance of between 12 and 124 mi. (19.3 and 200 km) and operate swarms of up to 100 drones.
Raphe mPhibr builds its own components
The company produces all of its batteries, flight controllers, components, and materials required to build drone structures domestically in India. This includes its subtractive metals, thermoplastics, carbon fiber composites, and wire harnesses.
The startup also developed its own proprietary autopilots and inertial navigation systems. It told TechCrunch that it currently imports radars and high-end cameras but plans to manufacture those in-house within 18 months.
Raphe mPhibr currently has around 600 employees. One hundred and fifty of those are dedicated to research, and over 250 are dedicated to production.
To date, the company claimed that it has manufactured more than 1,870 drones, which have flown a total of over 98,319 mi. (158,230 km). Vivek said that in the past 12 months, Raphe mPhibr has sold more than 300 drones.
Indian agencies are initial customers
General Catalyst led the funding round. It also included participation from Amal Parikh, Think Investments, and India’s leading family offices. To date, the startup has secured a total of $145 million in equity funding.
“Raphe mPhibr is uniquely positioned to develop cutting-edge aircrafts and UAVs given their robust, end-to-end design, engineering, and manufacturing capabilities,” stated Shashin Shah, a managing partner at Think Investments. “We are excited to deepen our partnership with the Raphe mPhibr team, and this investment underscores our conviction that it will emerge as one of the foremost aerospace companies in India.”
The company already has more than 10 customers, all of which are Indian government agencies. These include the Indian Army, Navy, and Air Force, as well as armed police forces such as the Border Security Force, Central Reserve Police Force, and the Indo-Tibetan Border Police.
The global market for military drones could expand from $15.8 billion in 2025 to $22.81 billion in 2030 at a compound annual growth rate (CAGR) of 7.6%, predicted Markets & Markets.
Vivek added that he expects Raphe mPhibr to go public in the next two to five years.
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