Marut Dronetech Soars with $6.2M Funding for Agri-Innovation

Marut Dronetech, a drone technology company, raised $6.2 million from Lok Capital. The funding will support their expansion plans, development of agricultural drones, and training initiatives. The company aims to enhance drone services, foster entrepreneurship, and increase drone manufacturing capacity to boost India's rural economy.

Marut Dronetech, a prominent name in drone technology, has successfully secured USD 6.2 million in Series A funding from Lok Capital. The investment underscores Lok Capital's dedication to fostering cutting-edge agricultural business models.

The funds are earmarked for several strategic initiatives, including the creation of advanced agricultural drones and the expansion of service networks into tier 2-3 cities to cater to rural clientele effectively.

Additionally, Marut Dronetech aims to establish numerous drone academies, promote drone entrepreneurship, and collaborate with top institutions for research. This move aligns with plans to significantly increase production and scale operations, with a revenue target of Rs 1000 crore in five years.

(With inputs from agencies.)