On November 5, 2024, Marut Drones, a prominent player in drone technology with DGCA certification for manufacturing and training, announced the successful closure of a $6.2 million Series A funding round led by Lok Capital.
As a leader in drone innovation, Marut Drones aims to create a robust ecosystem that encourages the adoption of drone technology across various sectors in India. This investment from Lok Capital underscores their dedication to supporting tech-driven business models in food and agriculture, with Marut’s initiatives poised to stimulate economic activity in tier 2 and 3 cities, thereby fostering entrepreneurship and financial independence in rural communities.
The funds will be directed towards several critical initiatives, including the creation of advanced agricultural drones tailored to customer specifications, the expansion of its channel partner network and service centers in tier 2 and 3 cities, and the establishment of drone agriculture service hubs to offer Drone-as-a-Service through collaborative partnerships.
The company also plans to recruit talent across all sectors, promote drone entrepreneurship, and launch 17 new drone academies to train skilled professionals while enhancing R&D efforts in collaboration with leading Indian institutions to develop applications like direct seeding and crop monitoring.
Hari Krishnan, Director of Lok Capital, expressed enthusiasm for this investment, highlighting its potential to benefit farmers and the rural economy. He stated, “We’re excited to partner with Marut to deliver solutions that enhance crop health, conserve water, protect soil integrity, and increase farmers’ yields while providing income opportunities for village-level entrepreneurs. Our support will facilitate market expansion, foster technological innovations, and promote indigenous manufacturing.”
Prem Kumar Vislawath, CEO and Co-Founder of Marut Drones, remarked on the significance of the funding, saying, “This investment reinforces our commitment to empowering Indian farmers and developing drone-based services across sectors. The capital will help us expand our team, boost our manufacturing capacity to 3,000 drones per year, and implement marketing strategies to achieve our revenue target of ₹1,000 crore within the next five years.”
Founded in 2019 by IIT alumni Prem Kumar Vislawath, Suraj Peddi, and Sai Kumar Chinthala, Marut Drones aims for a nationwide presence to modernize agriculture across diverse regions. While agriculture remains the primary focus, the company is also exploring applications in disaster management and surveillance, positioning itself as a comprehensive provider of drone technology.
Committed to generating employment in tier 2 and 3 cities, Marut Drones strives to enhance productivity and reduce costs for farmers. The company has expanded its team to over 200 members, operates a fleet of 750 drones, and boasts more than 1,000 drone pilots across 14 states.
Recently, Marut’s AG365H, India’s first DGCA Type Certified medium category multi-utility agricultural and fish feeding drone, was inaugurated by the Chief Minister of Andhra Pradesh and the Minister of Civil Aviation of India. Marut Drones is actively seeking partnerships with individuals, agri-entrepreneurs, and agri-input companies to further its mission of revolutionizing the Indian agricultural sector.
Lok Capital, founded in 2004, is a leading India-focused investment firm currently managing its fourth fund and celebrating its 20th anniversary. The firm has successfully exited numerous investments from its previous funds, including eight IPOs, and focuses on sectors such as financial services, fintech, food and agriculture, climate and sustainability, and healthcare.
