Marut Drones Raises $6.2 Million from Lok Capital to Scale Agricultural Drone Solutions
Revolutionizing Agriculture with Series A Funding
Marut Drones is a Hyderabad-based drone technology company. The startup focusses on revolutionizing the agricultural sector. Marut Drones has secured $6.2 million in Series A funding from impact investor Lok Capital. Marut drones was founded in 2019 by IIT alumni. The startup aims to resolve the challenges which are faced by farmers across diverse region. This investment will help Marut Drones to expand its reach and transform agricultural practices in India.
Boosting Manufacturing and Reaching Rural Communities
The funding should be allocated to bolster the operations. The startup plans to increase its manufacturing capacity from 300 to 3,000 drones per annum. This will help them to cater the growing demand for agricultural drones. This increase will also help the startup to accommodate the wider customer base.
The startup is also working on the expansion in rural areas. Additionally, the startup is working on expanding it’s partner network and service centres in Tier 2 and 3 cities. The startup aims to bring drone technology closer to the farmers who need it most.
Drone-as-a-Service and Skill Development: Marut Drones
Furthermore, Marut Drones plans to launch a “Drone-as-a-Service” model through strategic partnerships. This innovative approach can make drone technology more affordable and accessible for farmers. This will in turn allow them to get the benefits of drones without the burden of ownership. Some drones used are AG365 and AG365S.
The startup has to invest rigorously in skill development and training of the workforce. According to sources, the startup plans to launch 17 new drone academies. Marut Drones aims to equip individuals with the necessary expertise to operate and maintain agricultural drones. This initiative will not only create employment opportunities but also foster drone entrepreneurship, further boosting rural economies.
A Vision for Growth and Impact
Marut Drones has set ambitious revenue targets. It aims to reach ₹1,000 crore in the next five years. The startup also plans to intensify its research and development efforts. They are training pilots and help them to become DGCA certified. Also, the needs of the agricultural sector are evolving and that is why Marut drones is also evolving by providing cutting edge drone solutions.
Beyond agriculture, the startup intends to explore applications in disaster management and surveillance, demonstrating the versatility of its technology. The startup is operating in across 14 states. It has a team of over 200 members. The startup boasts a team of around 750 drones and over 1000 drone pilots.
To comment on this, there are lakhs of villages in India and if the firm want to become a top-notch startup in the field of Agriculture, they have to work really hard. They have to make a system of how the drones and pilots are going to work. They have to make a structure of operating drones within team.
Marut Drones: Market Potential and the Future
The drone market in India is projected to reach $15 billion by 2030, according to NITI Aayog. The strategic funding from Lok Capital will help the startup to provide innovative solutions to the kisans of the country. Hence, it can be said that the startup can be in a position to capture the market in the coming era.
The impact of the startup extends beyond individual farmers. The startup has revolutionalised the market of agriculture. The technology helps in survellience and disaster management. The startup is not only raising funding and driving profit. It is also providing rural employment opportunities. . Marut Drones Raises $6.2 Million from Lok Capital to Scale Agricultural Drone Solutions. This funding will definitely help to strengthen the foundation of India’s agricultural landscape.
References:
- The main announcement of raising $6.2 million in Series A funding from Lok Capital:
https://marutdrones.com/dronetech-firm-marut-drones-bags-6-2m-in-series-a-funding-from-lok-capital/ - Additional details about the funding and company plans:
https://cxotoday.com/press-release/marut-drones-secures-6-2m-in-series-a-funding-to-strengthen-product-development-and-manufacturing-capabilities/ - Information about the company’s growth plans and current status:
https://marutdrones.com/marut-drones-bags-6-2-million-in-series-a-funding-from-lok-capital/ - Details about the funding and its implications:
https://inc42.com/buzz/marut-drones-bags-6-2-mn-from-lok-capital/
