Hyderabad-based drone startup-Marut Dronetech has raised $6.2 million from Lok Capital, a leading investment fund.
Marut Drones, founded in 2019 has been making waves with its capability to deploy drones in key operations in the agriculture, healthcare sectors and is constantly innovating.
It had won appreciation by delivering COVID-19 vaccines to remote areas during the height of the pandemic, demonstrated on farm agriculture operations, large-scale seeding, control of mosquitoes and has the technology wherewithal to manufacture drones.
The company has acquired DGCA (Directorate General Certification Aviation) certification for the manufacture drones and conducive training services. The funds raised from Lok Capital (Series A) will be deployed towards several key initiatives, says Prem Kumar Vislawath, CEO and one of the founders.
The fund allocation will include development of advanced agricultural drones tailored to customer needs, expanding its channel partner network and service centers into Tier 2-3 cities to better serve rural customers, and establishing drone agriculture service hubs to offer Drone-as-a-Service with a partnership approach.
The company also aims to recruit professionals across all verticals, promote drone entrepreneurship, launch 17 new drone academies to train skilled professionals, and enhance its research and development efforts in partnership with leading institutions in India to create advanced applications like direct seeding and crop monitoring, a company statement said.
On the company’s growth plans, Prem Kumar says in the next five years the target is to reach the revenue target of Rs 1000 crore. The fund infusion will help us scale up our manufacturing capacity to 3000 drones per annum and marketing. “The significant investment reinforces Marut Drones’ commitment to empowering Indian farmers and developing applications for aggregating drone-based services for institutions across sectors. The fresh capital will also allow us to make investments in building our team and capacity building,” he adds.
Hari Krishnan, Lok Capital Director, said the partnership with Marut Drones to provide solutions to farmers and the rural economy is challenging. “Our investment in the company will support market expansion, new technology innovations, and indigenous manufacturing efforts.”
Drones for agriculture are a fast growing technology option that is making a visible impact. Using drones it is possible to secure the health of crops, while also saving water, preserving soil health, avoiding exposure to chemicals, increasing yield to farmers, and providing income to village-level entrepreneurs.
Marut Drones is at the forefront of innovation in drone technology and is building a robust ecosystem to promote drone adoption across various sectors in the country. The impact of Marut’s initiatives extends far beyond individuals, the proactive approach will translate into increased economic activity in tier 2 and 3 cities, fostering entrepreneurship and financial independence for rural communities at the grassroots level, the company says.
Founded in 2019 by Prem Kumar Vislawath, Suraj Peddi, and Sai Kumar Chinthala, all alumni of IITs, Marut Drones plans to establish a pan-India presence and play a pivotal role in modernising agriculture across diverse geographies. While agriculture will remain a priority, Marut Drones is also exploring disaster management and surveillance applications, reinforcing its role as a comprehensive drone technology provider.
Marut is committed to creating rural employment opportunities for tier 2 and 3 cities, contributing to enhanced productivity and reduced input costs for farmers.
The company has grown to over 200 employees and has a fleet of 750 drones and over 1000 drone pilots across 14 states in India.
Marut’s 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 of India.
Lok Capital is an India-focused investment firm established in 2004. It is investing out of its fourth fund in financial services, fintech, food and agri, climate and sustainability, and healthcare.
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