Hyderabad-based Marut Drones secures $6.2 million in Series A funding
The company aims to recruit professionals across all verticals, foster drone entrepreneurship, launch 17 new drone academies and enhance its research and development efforts in partnership with leading institutions
Hyderabad: Marut Dronetech, a leading drone technology company with DGCA certification for manufacturing and training has raised $6.2 million in Series A funding from Lok Capital.
Marut Drones plans to allocate funds towards several key initiatives, including the 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, a press release said.
The company also aims to recruit professionals across all verticals, foster drone entrepreneurship, launch 17 new drone academies to train skilled professionals and enhance its research and development efforts in partnership with leading institutions.
Hari Krishnan, Director of Lok Capital said drones for agriculture are a novel technology that can secure the health of crops, while also saving water, preserving soil health, avoiding exposure to chemicals, increase yield to farmers and providing income to village-level entrepreneurs.
Prem Kumar Vislawath, CEO and Co-Founder, Marut Drones said, “The fresh capital will also allow us to make investments in building our team, increasing our manufacturing capacity to 3000 drones per annum, and marketing to continue scaling at a rapid pace to reach a revenue target of Rs.1000 crore in the next five years.”
Founded in 2019 by Prem Kumar Vislawath, Suraj Peddi and Sai Kumar Chinthala, Marut Drones has a goal of establishing a pan-India presence, thus positioning the company to play a pivotal role in modernizing agriculture across diverse geographies.
