Market Growth and Focus Areas The market is growing at a 50 percent CAGR, with key focus areas in agriculture and infrastructure. The fastest-growing region identified is Asia Pacific.
Company Journey and Growth Challenges The journey of the company started in November 2014, initially focusing on visual drone activities. Overcoming challenges through passion, vision clarity, team building efforts led to significant growth by securing major contracts.
Overcoming Technical Challenges & Contract Wins By mid-2015, facing obstacles like data platform needs and technical team limitations were overcome through innovative solutions. Securing an $8 million contract marked a turning point leading to rapid team expansion for large-scale operations.
Global Expansion Successes & Delivery Improvements International expansion began in April 2017 starting from Australia then expanding to Singapore and Dubai due to positive feedback on solutions tested globally despite initial delivery challenges faced internationally.
Global Expansion Milestones & Scaling Challenges By mid-2018, the company had expanded into eight countries with successful fundraising rounds including Series A funding from Asiata Digital Innovation Fund (ADIF). Achieving global ranking recognition highlighted scaling challenges that required fast-paced solutions.
Transitioning Towards SaaS Solutions & Operational Revamp In early 2019 focused on delivering SaaS solution resulting in structural revamp by August/September addressing operational scalability issues as staff grew across multiple countries.
'Kovit' Crisis Management Strategies 'Kovit' presented unique industry-wide disruptions affecting project deployments but was managed innovatively by offering services for CSR initiatives during lockdowns showcasing adaptability amidst crisis.