Dare Ventures Invests In Drone Startup Dhaksha Unmanned Systems
- ByStartupStory | September 15, 2022
Dare Ventures, the venture capital arm of Coromandel International Limited, has announced its third investment of the year in Dhaksha Unmanned Systems Private Limited, a startup with a unique drone product. The capital will be used for talent acquisition, research and development, and manufacturing expansion.
Dhaksha, one of the pioneers in India’s drone industry, offers a comprehensive variety of Unmanned Aerial Systems (UAS) technological solutions for agricultural, defense, surveillance, and delivery, among other uses. Over the years, the Chennai-based firm has built competence in drone research and development, testing, production, and customer service. It is the first corporation in India to produce drones powered by a gasoline engine, with the potential to make drones powered by batteries.
The “Agrigator” drone, designed by Dhaksha for the agricultural business, assists farmers in applying fertilizers and crop protection chemicals. Agrigator has a 12L spray tank and can cover up to 30-35 acres per day with an 8-hour use time. Indian Air Force’s renowned “Mehar Baba Swarm Drone Competition” for drone design was won by the company’s “SwarmGator” defense drone powered by a gasoline engine. Dhaksha, in collaboration with the esteemed Anna University, superseded 154 competitors to win this award. In addition, the business has designed drones for surveillance, transportation of commodities, and mining with unique use-case solutions.
When asked about the investment, Mr. Ramanathan Narayanan, Director, and CEO of Dhaksha said, “We are excited to partner with Dare Ventures. I am confident this will help us create several milestones in the drone industry, deliver world-class drones, offer exceptional support to customers across India and make the company a frontrunner in realizing the government’s vision of making India a ‘Global Hub’ for Drones.”
Coromandel, India’s biggest private phosphatic fertilizer manufacturer, pioneered innovative agrotech solutions for farmers. The firm has previously worked with Dhaksha drones to test drone-based crop protection and fertilizer treatments. The business plans to introduce “Drone as a Service” in India.
Sameer Goel, Director, Dare Ventures Ltd., and Managing Director, Coromandel International Limited, stated in connection with the acquisition that Coromandel is happy to help Dhaksha in its quest to change the Indian drone manufacturing business. They anticipate Dhaksha to dominate Indian drone production with its excellent research and manufacturing skills. “Our investment in Dhaksha underscores Coromandel’s commitment to help Indian farmers access latest technologies in agriculture. We believe drones will be a game changer in increasing the adoption of water-soluble fertilizers, liquid fertilizers, nano fertilizers, in addition to the crop protection products in India,“ he added.
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