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Lok Capital Invests $6.2M in Marut Drones for Drone Agriculture Service Expansion

Nov 05, 2024•over 1 year ago

Contract Type

partnership

HyderabadManufacturingAgriculture and Farming

Description

Lok Capital has invested $6.2 million in Marut Drones to support the expansion of drone agriculture services across Tier 2-3 cities in India. Marut Drones aims to use the funds to develop advanced agricultural drones, expand its service centers, and establish drone agriculture service hubs to offer Drone-as-a-Service with a partnership approach. The company also plans to recruit professionals, launch new drone academies, and enhance research and development efforts in partnership with leading institutions in India.

Company Information

Company

Marut Dronetech

Location

Hyderabad, Telangana, India

About

Marut Dronetech is a drone manufacturing and training startup focused on advanced agricultural applications. Founded in 2019, the company is committed to empowering Indian farmers by offering innovative drone-based services. With a fleet of 750 drones and over 1,000 drone pilots, Marut Dronetech aims to expand its operations across Tier 2-3 cities in India. The company also explores applications in disaster management and surveillance.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months