Marut Drones secures $6.2 million in Series A funding

Marut Dronetech pvt ltd, a leading drone technology company with DGCA certification for manufacturing and training, has raised USD 6.2 million (Rs 55 crore) in Series A funding from Lok Capital.

A press release from the city-based firm said Lok Capital's investment in Marut Drones reaffirms its commitment to backing innovative tech-enabled food and agriculture business models.

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.

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 in India to create advanced applications like direct seeding and crop monitoring.

Hari Krishnan, Director of Lok Capital said, “We're 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.” Prem Kumar Vislawath, CEO and Co-Founder, Marut Drones said, ‘We are excited about this fundraise and bringing on-board like-minded investors.

This significant investment reinforces Marut Drones' commitment to empower Indian farmers and develop applications for aggregating drone-based services for institutions across sectors. The fresh capital will also allow the firm to make investments in building a team, increasing the manufacturing capacity to 3,000 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, he said.