Marut Drones Gets $6.2-Mn Funding

Hyderabad: City-based Marut Dronetech Pvt Ltd, a drone technology company, has raised $6.2 million in Series-A funding from Lok Capital. The drones manufacturer plans to allocate funds towards various initiatives including, the development of advanced agricultural drones, expanding its channel partner network and service centers into tier 2-3 cities, and establishing drone agriculture service hubs to offer drone-as-a-service.

The company also aims to recruit professionals across all verticals, launch 17 new drone academies to train skilled professionals and enhance its research and development efforts in partnership with leading institutions in India.

Hari Krishnan, Director, Lok Capital, said: “We are excited to partner with the team at Marut to bring solutions to farmers and the broader rural economy. Our investment in the company will support market expansion, new technology innovations, and indigenous manufacturing efforts.” The company said it is inviting partnerships from agri entrepreneurs, large agri input companies, agri equipment manufacturers, agri retailersfor drone sales, service and training.

Prem Kumar Vislawath, CEO and Co-Founder, Marut Drones, said: “The fresh capital will allow us to make investments in building our team, increasing our manufacturing capacity to 3,000 drones per annum, and marketing to continue scaling at a rapid pace to reach a revenue target of Rs1,000 cr in the next five years.”