BharatRohan Secures $2.3 Million in Pre-IPO Funding to Expand Drone-Based Agricultural Technologies

• ByStartupStory     |    May 8, 2024

BharatRohan, an innovative agtech company renowned for its drone-based hyperspectral remote sensing technology, has successfully raised $2.3 million in a pre-IPO funding round. This round saw contributions from distinguished investors including Villgro Innovation Foundation, Caspian, RevX, and Venture Garage, alongside a consortium of Ultra High Net Worth Individuals. The funding, a strategic mix of debt and equity, aims to propel the expansion of the company’s drone technology in agriculture.

Founded in 2016 by Rishabh Choudhary and Amandeep Panwar, BharatRohan is currently aiding 50,000 farmers across five Indian states, enhancing agricultural practices over 200,000 acres. The company’s Drone-based Decision Support System (DSS), known as BharatRohan® CropAssure®, plays a pivotal role in identifying early signs of disease, pest infestations, and nutritional deficiencies in crops. This technology facilitates the adoption of Integrated Pest Management (IPM) strategies, contributing to residue-free crop cultivation.

The fresh capital will be utilized to develop proprietary edge computing drones designed for precise crop monitoring and variable pesticide application. These advanced drones will be distributed through franchise-based models to rural entrepreneurs, enabling them to provide CropAssure® services to more farmers. Furthermore, BharatRohan plans to advance the development of compact hyperspectral and multispectral sensors for these drones.

As part of its ambitious plans, BharatRohan aims to extend its operations to 15 Indian states, covering an impressive 10 lakh acres by 2025. The company has already shown significant growth, tripling its revenue and doubling its profit over the last financial year. Alongside its core drone-based crop monitoring technologies, BharatRohan has also entered the market of procuring residue-free farm produce cultivated through IPM practices, intending to introduce these products to global markets.

“This investment marks a significant milestone in BharatRohan’s journey. It strengthens our resolve to enhance our services and expand our reach across the nation, ensuring that farming becomes more scientific, sustainable, and profitable,” stated founders Amandeep Panwar and Rishabh Choudhary.

Vivek Kumar, founder at Venture Garage, highlighted the company’s potential, stating, “BharatRohan is in a unique position using latest technology to solve one of the oldest problems of continuously optimizing farming and bridge farmers to most profitable markets. Growing at a rapid pace, we at Venture Garage, strongly feel that BharatRohan is on track to not only build a company championing sustainable and scalable agriculture but also deliver great earnings for their investors.”

Sibadittya Baidya, AVP-Investments at RevX Capital, also expressed strong support for BharatRohan’s vision. “BharatRohan is well-positioned to spearhead the transformation of agriculture through cutting-edge drone technology, providing sustainable solutions to age-old farming challenges while driving positive change locally and globally. We, at RevX Capital, are happy to understand BharatRohan’s unique working capital gaps and partner to provide customized solutions,” he added.

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