NEW DELHI, 8 November 2024: Marut Dronetech Pvt Ltd, a leading Indian drone technology company, has successfully raised $6.2 million in Series A funding from Lok Capital.
This investment will fuel Marut Drones' mission to revolutionize the agriculture sector and other industries through advanced drone technology.
Marut Drones, with its DGCA certification for manufacturing and training, is at the forefront of drone innovation in India. The company plans to utilize the fresh capital to:
- Develop advanced agricultural drones: Tailor-made solutions to meet specific customer needs.
- Expand its network: Establish channel partner networks and service centers in Tier 2 and 3 cities.
- Launch drone agriculture service hubs: Offer Drone-as-a-Service (DaaS) through partnerships.
- Recruit top talent: Build a strong team across various verticals.
- Foster drone entrepreneurship: Launch 17 new drone academies to train skilled professionals.
- Advance research and development: Collaborate with leading institutions to create innovative applications like direct seeding and crop monitoring.
Hari Krishnan, Director of Lok Capital, expressed enthusiasm for the partnership, stating, "Drones for agriculture are a game-changer, offering benefits like improved crop health, water conservation, and increased yield. Our investment will support Marut Drones' growth and innovation."
Prem Kumar Vislawath, CEO and Co-Founder of Marut Drones, shared, "This funding will accelerate our mission to empower Indian farmers and develop drone-based services for various sectors. We aim to scale rapidly and achieve a revenue target of 1000 crore in the next five years."
Founded in 2019, Marut Drones has a vision to establish a nationwide presence and modernize agriculture across diverse regions. While agriculture remains a core focus, the company is also exploring applications in disaster management and surveillance. Marut Drones is committed to creating rural employment opportunities, enhancing productivity, and reducing input costs for farmers.
With a team of over 200 professionals, a fleet of 750 drones, and over 1000 drone pilots, Marut Drones is poised to revolutionize the Indian agriculture industry. The company invites partnerships from individuals, entrepreneurs, and industry leaders to join its mission.