Crash during Level Load on iPad

I am facing a Level2 warning straightaway while its loading the scene and it eventually crashes. Actually i’m getting it during a camera flyover which flies through the whole scene but I still get it even if I remove the cutscene.

Heres, the internal profiler stats right before it crashed:

iPhone Unity internal profiler stats:
cpu-player> min: -50.6 max: 123.6 avg: 36.0
cpu-ogles-drv> min: 6.7 max: 97.7 avg: 20.6
cpu-waits-gpu> min: 0.2 max: 0.3 avg: 0.2
msaa-resolve> min: 0.0 max: 0.0 avg: 0.0
cpu-present> min: 1.3 max: 192.5 avg: 68.3
frametime> min: 37.3 max: 245.7 avg: 125.1
draw-call #> min: 176 max: 370 avg: 251 | batched: 137
tris #> min: 59737 max: 183685 avg: 105281 | batched: 28503
verts #> min: 89739 max: 249264 avg: 160183 | batched: 57510
player-detail> physx: 7.6 animation: 0.1 culling 0.0 skinning: 0.0 batching: 0.7 render: 19.3 fixed-update-count: 1 … 4
mono-scripts> update: 4.1 fixedUpdate: 1.4 coroutines: 0.0
mono-memory> used heap: 1060864 allocated heap: 1200128 max number of collections: 0 collection total duration: 0.0

Can, anybody have a look at this and help me on figuring out whats going on…

Your game used 100k+ tris and 160k verts. Read the performance optimization guide provided by Unity3D.
http://unity3d.com/support/documentation/Manual/iphone-performance.html

And you can select Run → Run with Performance Tool → Activity Monitor to check how much memory your game consumed. A level 2 memory warning always means your game is crashing. I guess your games crashes because there is no memory to alloc. Try to optimize your game by following the guide.