Dare Ventures, the venture capital division of Coromandel International Limited, has made their third funding of 2013 with Dhaksha Unmanned Systems Private Limited which is a company that has an innovative drone product. The funds will be used to fund the acquisition of new talent research and development and for manufacturing expansion.
Dhaksha is one of the pioneers of the drone industry in India, provides the most extensive range of Unmanned Aerial System (UAS) technology solutions to agriculture, defense delivery, surveillance, and agriculture as well as other applications. Through the years the company based in Chennai has gained expertise in the field of drone research and development as well as testing, production as well as customer support. It is the first company in India to make drones that are powered by a gasoline engine. There is also the possibility of making drones that run on batteries.
“Agrigator,” the “Agrigator” drone, designed by Dhaksha to serve the needs of the agricultural industry helps farmers apply fertilizers and other chemicals for crop protection. The Agrigator comes with a 12-litre spray tank that can cover 30-35 acres per day and has an eight-hour time of use. Indian Air Force’s famous “Mehar Baba Swarm Drone Competition” to design drones was taken thanks to the firm’s “SwarmGator” defense drone powered by gasoline engines. Dhaksha along with the prestigious Anna University, superseded 154 competitors to win the award. Additionally, the company has created drones to monitor transport of commodities and mining, with innovative application-specific solutions.
When inquired about the investment made by Dare Ventures, Ms. Ramanathan Narayanan, Director Director, and Chief Executive Officer of Dhaksha declared, “We are excited to collaborate together with Dare Ventures. I’m sure this will allow us to create a number of landmarks in the drone industry that will provide world-class drones, provide outstanding support to our customers across India and help make Dhaksha a leader in achieving the government’s goal of creating India an “Global Hub” in the field of Drones.”
Coromandel India’s largest private manufacturer of phosphatic fertilizers, has pioneered new agrotech solutions for farmers. Coromandel has previously collaborated together with Dhaksha drones to evaluate drone-based fertilizer and crop protection. The company is planning to introduce “Drone as a Service” in India.
Sameer Goel, Director, Dare Ventures Ltd., and Managing Director of Coromandel International Limited, stated regarding this acquisition Coromandel is delighted to support Dhaksha in its efforts to revolutionize its position in the Indian drone manufacturing industry. They expect Dhaksha to be the dominant force in Indian drone production due to its superior manufacturing and research capabilities. “Our decision to invest in Dhaksha confirms the Coromandel’s desire to helping Indian farmers get access to the most advanced technologies in the field of agriculture. We believe drones can become a game changer for growing the use of liquid fertilizers that are water-soluble, water-soluble nano fertilizers, and the products for crop protection in India,” he added.