ZeroDrag, Veloce AIF, SunCharge Motors Report Funding and Investment Activity

Drone Avionics Startup ZeroDrag Secures INR 6.5 Cr Seed Round 

ZeroDrag, a drone avionics and Unmanned Aerial Vehicle (UAV) sub-components company, has raised INR 6.5 crore (around USD 780,000) in a seed funding round led by Transition VC. 

The funding follows an earlier pre-seed round of INR 1.2 crore (approximately USD 145,000) raised in September 2023 from Enrission India Capital and angel investors.

The fresh capital will be used to strengthen its research and development capabilities, expand manufacturing capacity, and enhance testing and quality infrastructure. It also plans to improve supply chain stability and accelerate the development of next-generation UAV avionics for both domestic and international markets.

Founded in 2022 by Amit Nimje and Shantanu Bhede, ZeroDrag focuses on building indigenous drone electronics, communication systems, and autonomy-ready hardware. The Nagpur-based startup develops components such as autopilots, motor controllers, GNSS modules, telemetry systems, and payload integration systems.

ZeroDrag supplies sub-components to drone manufacturers across sectors including defence, agriculture, logistics, and industrial applications. Its approach allows compatibility across different drone platforms and use cases.

Over the next 12 to 24 months, the company plans to scale manufacturing, expand its engineering team, and widen its product portfolio, including enterprise-grade UAV hardware for heavy-lift drones and future eVTOL platforms.

Veloce AIF Invests in Shakti Distilleries and Gupta Foods 

Veloce AIF, a SEBI-registered Category II Alternative Investment Fund and part of the Lemon Group, has made recent investments of INR 20 crore in Shakti Distilleries and INR 18 crore in Gupta Foods. The investments were made through its funds along with co-investments from fund investors.

Shakti Distilleries operates in the production of pharma-grade ethanol and ethanol for petro-blending, while Gupta Foods runs restaurant brands such as Quattro and Spice Club.

Overall, the fund has backed around 50 companies across its two funds, Veloce Opportunities Fund I and II. Its portfolio includes firms such as Jainam Broking, Goldie Solar, Jaipur Watch Co., Purple Style Labs, and Skyways Air Services, among others.

Veloce Opportunities Fund I has been fully deployed with a corpus of INR 200 crore. Fund II is currently active with a target corpus of INR 300 crore, including a green shoe option of INR 100 crore. So far, it has secured over INR 160 crore in commitments from ultra-high-net-worth individuals, NRIs, family offices, and business groups.

The fund typically invests between INR 5 crore and INR 25 crore through a mix of structured debt and equity, focusing on businesses with stable revenue models and growth potential.

SunCharge Motors Secures Seed Funding from JIIF 

SunCharge Motors has secured seed funding from JITO Incubation & Innovation Foundation (JIIF), along with participation from a group of angel investors. The company has not disclosed the size of the funding round.

The capital will be used to support technology development, infrastructure research, and expansion of the company’s solar-assisted electric mobility systems. Founded by Sanskar Modi, SunCharge Motors focuses on building solar-integrated solutions aimed at reducing reliance on traditional charging infrastructure.

The company is developing systems that combine battery management, real-time energy control, and solar energy integration to address infrastructure challenges in India’s electric vehicle ecosystem.

As electric mobility adoption grows in the country, infrastructure gaps continue to pose challenges. SunCharge Motors is positioning its approach around energy integration within mobility systems, rather than focusing only on vehicle design or charging speed, to address these constraints.