The Business Bytes
Hyderabad/Bhubaneswar, November 5, 2024 (TBB Bureau): Marut Dronetech Pvt Ltd, a leading drone technology company with DGCA certification for manufacturing and training, has secured $6.2 million in Series A funding from Lok Capital. This investment will fuel Marut Drones’ mission to drive drone adoption across India’s agricultural sector and beyond, positioning the company at the cutting edge of tech-enabled solutions that cater to the unique needs of rural and semi-urban India.
Lok Capital’s strategic investment highlights its dedication to supporting innovative technology ventures with high impact in agriculture and the rural economy. Marut Drones’ approach goes beyond advancing individual interests, creating a foundation for sustainable economic activity and entrepreneurship in Tier 2 and Tier 3 cities. This grassroots approach fosters financial independence among rural communities, helping transform local economies and create new opportunities.
(L to R) Suraj Peddi, Prem Kumar Visalwath, Sai Kumar Chinthala – Co Founders, Marut Drones
With the new funding, Marut Drones plans to accelerate several strategic initiatives. A significant portion of the capital will go toward developing advanced agricultural drones specifically designed to meet the diverse needs of Indian farmers, addressing crop-specific requirements and environmental challenges. Additionally, Marut Drones will expand its presence in rural areas by establishing a robust network of service centers and channel partners in Tier 2 and Tier 3 cities, making drone technology more accessible to smaller towns and rural communities. To further promote its innovative Drone-as-a-Service (DaaS) model, the company will set up dedicated agricultural service hubs, empowering rural entrepreneurs and farmers to harness the benefits of drones for improved productivity.
The company is also focused on skill development, with plans to launch 17 new drone academies across the country to train skilled professionals, fostering drone entrepreneurship and creating employment opportunities in rural communities. Marut Drones aims to advance its research and development efforts by collaborating with premier institutions in India to develop specialized applications, such as precision crop monitoring and direct seeding solutions. Through these initiatives, Marut Drones is committed to creating a sustainable ecosystem that supports rural development and transforms India’s agricultural landscape.
Hari Krishnan, Director at Lok Capital, emphasized the transformative impact of this partnership, stating, “We’re excited to support Marut Drones in bringing cutting-edge solutions to farmers and the broader rural economy. Agricultural drones offer tremendous benefits – from crop health to soil preservation and water savings – which ultimately enhance yields, boost incomes, and promote sustainable farming practices. Our investment will facilitate Marut’s market expansion and indigenous manufacturing efforts, paving the way for technological self-reliance.”
Prem Kumar Vislawath, CEO and Co-Founder of Marut Drones, echoed this excitement, saying, “This funding not only strengthens our ability to scale but also aligns us with partners who share our vision. We are committed to empowering Indian farmers and institutions by building a sustainable drone ecosystem. With this capital, we aim to expand manufacturing capacity to 3,000 drones annually and set ambitious revenue targets of Rs 1,000 crore within five years.”
Founded in 2019 by Prem Kumar Vislawath, Suraj Peddi, and Sai Kumar Chinthala, Marut Drones has grown rapidly, now boasting a fleet of over 750 drones and a team of 1,000 trained pilots across 14 states. The company’s flagship drone, AG365H – India’s first DGCA Type Certified medium-category multi-utility agricultural and fish-feeding drone – was recently inaugurated by the Chief Minister of Andhra Pradesh and the Minister of Civil Aviation, underscoring Marut Drones’ commitment to innovation and regulatory excellence.
While agriculture remains a primary focus, Marut Drones is also exploring critical applications in disaster management and surveillance, solidifying its position as a comprehensive drone technology provider. Marut Drones is actively seeking partnerships with entrepreneurs, agri-input companies, equipment manufacturers, and distributors to join them in reshaping India’s agricultural landscape.
