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Tag: Product

Marut Drones Secures USD 6.2 Million in Series A Round to Enhance Manufacturing and Innovation

India, November 05, 2024: Marut Dronetech Pvt Ltd, a leading drone technology company with DGCA certification for manufacturing and training has raised  in Series A funding from Lok Capital. Marut Drones is at the forefront of innovation in drone technology and is building a robust ecosystem to promote drone adoption across various sectors in India. Lok Capital’s investment in Marut Drones reaffirms its commitment to backing innovative tech-enabled food and agriculture business models. The impact of Marut’s initiatives extends far beyond individuals, the proactive approach will translate into heightened economic activity in tier 2 and 3 cities, fostering entrepreneurship and financial independence for rural communities at the grassroots level.

Marut Drones plans to allocate funds towards several key initiatives, including the development of advanced agricultural drones tailored to customer needs, expanding its channel partner network and service centers into Tier 2-3 cities to better serve rural customers, and establishing drone agriculture service hubs to offer Drone-as-a-Service with a partnership approach. The company also aims to recruit professionals across all verticals, foster drone entrepreneurship, launch 17 new drone academies to train skilled professionals and enhance its research and development efforts in partnership with leading institutions in India to create advanced applications like direct seeding and crop monitoring.

Hari Krishnan, Director of Lok Capital expressed his enthusiasm for this transformative investment, stating, “We’re excited to partner with the team at Marut to bring solutions to farmers and the broader rural economy. Drones for agriculture are a novel technology that can secure the health of crops, while also saving water, preserving soil health, avoiding exposure to chemicals, increase yield to farmers and providing income to village-level entrepreneurs. Our investment in the company will support market expansion, new technology innovations, and indigenous manufacturing efforts.”

Prem Kumar Vislawath, CEO and Co-Founder, Marut Drones said, ‘We are excited about this fund raise and bringing on-board like-minded investors. This significant investment reinforces Marut Drones’ commitment to empower Indian farmers and develop applications for aggregating drone-based services for institutions across sectors. The fresh capital will also allow us to make investments in building our team, increasing our manufacturing capacity to 3000 drones per annum, and marketing to continue scaling at a rapid pace to reach a revenue target of 1000 cr in the next five years.”

Founded in 2019 by Prem Kumar Vislawath, Suraj Peddi and Sai Kumar Chinthala, Marut Drones has a goal of establishing a pan-India presence, thus positioning the company to play a pivotal role in modernizing agriculture across diverse geographies. While agriculture will remain a priority, Marut Drones is also exploring disaster management and surveillance applications, reinforcing its role as a comprehensive drone technology provider. Marut is committed to creating rural employment opportunities for tier 2 and 3 cities, contributing to enhanced productivity and reduced input costs for farmers. The company has grown to over 200 team members and has a fleet of 750 drones and over 1000 drone pilots across 14 states in India. Marut’s AG365H India’s first DGCA Type Certified medium category multi-utility agricultural and fish feeding drone was recently inaugurated by Chief Minister of Andhra Pradesh and Minister of Civil Aviation of India. Marut Drones is inviting partnerships from enterprising individuals, agri entrepreneurs, large agri input companies, agri equipment manufacturers, agri retailers/ dealers/ distributors for all its business activities – drone sales, drone service and drone training, to join in its journey in creating a revolution in the Indian agri industry.

MVPRockets  Accelerates Global Tech Innovation Through Rapid Product Development

New Delhi, 21st October 2024 : MVPRockets, a product development powerhouse, is revolutionizing the startup landscape. Founded by Giridharan Natarajan and Praveen MV, the company has empowered over 25 startups across 5 countries who in turn have gone on to raise more than  in funding Accel, Y Combinator, Bessemer Venture Partners, and Jungle Ventures and many more – cementing its position as the premier partner for rapid product development for some of the top startups, consulting companies and successful enterprises building high quality products.

Led by a team of seasoned professionals who have worked in some of the most successful tech giants like Yahoo, Microsoft, Thoughtworks and SAP, who have founded 5+ startups, raised venture funding & exited businesses before, MVPRockets brings unparalleled expertise to every project – not just in product & tech but as a valued partner who understands fundraising, growth and startup success. The company’s offerings span Product design &  Development, MVP Development, Tech Stack Modernization, and GenAI Product Development, with an impressive average time-to-market of just 75 days.

Commenting on the same, Mr Giridharan, CEO MVPRockets shared,Our vision is to be the catalyst that transforms innovative ideas into market-leading products. Our background allows us to not just build products, but to shape success stories. We’ve been in our clients’ shoes, facing the same challenges and pressures while building our own startups. This experience enables us to anticipate obstacles and create solutions that truly resonate in the market. At MVPRockets, we’re not just service providers – we’re co-creators of the next wave of innovation.”

MVPRockets’ impressive client roster includes some of the most promising startups backed by top-tier venture capital firms, founded by top entrepreneurs who often come from exceptional alma mater(IITs, IIMs, Harvard & other IVY league global schools) & have worked in successful  firms like McKinsey, Goldman Sachs, Uber etc.. The company also collaborates with leading consulting firms & successful enterprises to drive corporate innovation, bringing startup agility to large enterprises.

As it expands globally, MVPRockets remains committed to fueling the next generation of tech innovation, empowering both startups and enterprises to build products that exceed market expectations.