Agriculture drone startup Suind is set to raise Rs 20.5 crore (around $2.2 million) in a fresh funding round led by Transition Venture Capital Fund, according to regulatory filings reviewed by Entrackr. The board of the Bengaluru-based company has approved the issuance of 5,107 compulsorily convertible preference shares (CCPS) at an issue price of Rs 40,132.20 each to raise the capital. As part of the round, Transition Venture Capital Fund will invest Rs 20 crore, while CIIE Initiatives will infuse Rs 50 lakh. According to Entrackr's estimates, the fresh round values Suind at around Rs 80 crore (approximately $8.4 million) on a post-money basis. The investment comes after a gap of around two-and-a-half years. In November 2023, Suind had raised Rs 5 crore in a seed funding round led by Sunicon Ventures, with participation from Zetta Farms and several angel investors. Founded in 2020 by Kunal Shrivastava and Kevin Kleber, Suind develops autonomous drone solutions for agriculture. Its flagship platform, Bumblebee, combines computer vision with autonomous navigation to help farmers monitor crops, detect issues, and carry out precision spraying with minimal human intervention. The company now plans to use the fresh capital to expand the use of its drone technology beyond agriculture and into industrial applications. Following the allotment, Transition Venture Capital Fund will emerge as Suind's largest external shareholder with a 25% stake. Co-founders Kunal Shrivastava and Kevin…

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