Coromandel International Expands Investment in Drone Startup Dhaksha Unmanned Systems
Coromandel International Limited, a leading player in the agricultural and specialty chemicals sector, has recently announced a strategic move to increase its stake in Chennai-based drone startup Dhaksha Unmanned Systems Private Limited. With an investment of INR 150 crore (approximately $18 million), Coromandel aims to bolster its position in the burgeoning drone technology space while supporting Dhaksha’s growth and innovation endeavors.
This significant investment underscores Coromandel’s commitment to harnessing cutting-edge technology to drive efficiency and sustainability in agriculture and other sectors. Through its wholly owned subsidiary, Coromandel Technology Limited, the company plans to elevate its stake in Dhaksha from 51.02% to 58.01%, signaling a vote of confidence in the startup’s capabilities and potential for future growth.
Dhaksha Unmanned Systems, founded by Ramanathan Narayanan in 2019, has quickly established itself as a key player in the drone industry, catering to diverse sectors including agriculture, defence, and enterprise. The startup’s innovative solutions leverage drone technology to address various challenges faced by these sectors, ranging from precision agriculture to surveillance and security applications.
With the fresh infusion of capital from Coromandel, Dhaksha aims to ramp up its research and development initiatives, further enhancing its product offerings and technological capabilities. Additionally, the funds will be utilized to bolster Dhaksha’s operational capabilities, enabling the company to effectively service large orders and meet the growing demand for its solutions.
One of Dhaksha’s key focus areas is agriculture, where drones are increasingly being deployed to revolutionize farming practices and improve crop yields. By leveraging advanced imaging and data analytics capabilities, Dhaksha’s drones empower farmers with valuable insights into crop health, soil conditions, and pest infestations, enabling them to make informed decisions and optimize agricultural operations.
Beyond agriculture, Dhaksha also caters to the defence and enterprise sectors, providing innovative drone solutions for surveillance, reconnaissance, and asset inspection applications. The startup’s expertise in drone technology, coupled with its commitment to quality and reliability, has earned it a reputation for excellence in these critical sectors.
In addition to its product offerings, Dhaksha is also actively involved in remote pilot training, having coached over 950 pilots to date. This initiative not only contributes to the growth of the drone ecosystem but also helps address the growing demand for skilled drone operators in various industries.
Coromandel’s expanded investment in Dhaksha reflects its strategic vision to leverage disruptive technologies to drive innovation and growth across its business verticals. By aligning itself with a leading player in the drone technology space, Coromandel aims to strengthen its position as a pioneer in the adoption of technology-driven solutions for agriculture and beyond.
As the world continues to embrace the transformative potential of drones, partnerships like the one between Coromandel and Dhaksha are poised to drive significant advancements in efficiency, productivity, and sustainability across diverse sectors. With a shared commitment to innovation and excellence, these two companies are well-positioned to shape the future of drone technology and its applications in the years to come.
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