Marut Drones secures $6.2 million in Series A funding

Marut Dronetech pvt ltd, a starring drone exertion institution with DGCA certification for manufacturing and training, has raised USD 6.2 cardinal (Rs 55 crore) successful Series A backing from Lok Capital.

A property merchandise from the city-based steadfast said Lok Capital's concern successful Marut Drones reaffirms its committedness to backing innovative tech-enabled nutrient and agriculture concern models.

Marut Drones plans to allocate funds towards respective cardinal initiatives, including the improvement of precocious cultivation drones tailored to lawsuit needs, expanding its transmission spouse web and work centers into tier 2-3 cities to amended service agrarian customers, and establishing drone agriculture work hubs to connection Drone-as-a-Service with a concern approach.

The institution besides aims to enlistee professionals crossed each verticals, foster drone entrepreneurship, motorboat 17 caller drone academies to bid skilled professionals and heighten its probe and improvement efforts successful concern with starring institutions successful India to make precocious applications similar nonstop seeding and harvest monitoring.

Hari Krishnan, Director of Lok Capital said, “We're excited to spouse with the squad astatine Marut to bring solutions to farmers and the broader agrarian economy. Our concern successful the institution volition enactment marketplace expansion, caller exertion innovations, and indigenous manufacturing efforts.” Prem Kumar Vislawath, CEO and Co-Founder, Marut Drones said, ‘We are excited astir this fundraise and bringing on-board like-minded investors.

This important concern reinforces Marut Drones' committedness to empower Indian farmers and make applications for aggregating drone-based services for institutions crossed sectors. The caller superior volition besides let the steadfast to marque investments successful gathering a team, expanding the manufacturing capableness to 3,000 drones per annum, and selling to proceed scaling astatine a accelerated gait to scope a gross people of Rs 1000 crore successful the adjacent 5 years, helium said.