The investment of Coromandel International Limited in Chennai based drone manufacturing company Dhaksha Unmanned Systems is a major step towards the technology adoption and the diversification into the unmanned aerial systems (UAS) technology field. The INR 150 crore investment to acquire an additional 7% stake in Dhaksha is supposed to boost the firm’s research and development abilities, thus, helping it to fulfill large orders and satisfy its working capital needs.
Strengthening Technological Capabilities
The recent investment goes along with Coromandel’s strategic vision of the diversification of the technology spaces and the promotion of technological innovations in different areas. The company’s dedication to the emergence of Dhaksha as a major player in the drone manufacturing industry in India is a clear sign of its commitment to the development of the next generation of UAS technologies.
Dhaksha’s Growth Trajectory
Since its establishment in 2019, Dhaksha has quickly developed its technological skills, and now it offers a full range of UA technology solutions for agriculture, defense, surveillance and enterprise applications. Furthermore, the company offers remote pilot training services and has trained many drone pilots so far. Dhaksha’s recent growth of its production capacity through the construction of a new manufacturing facility on the outskirts of Chennai is a manifestation of its dedication to the increasing demand for its drone technology solutions.
Market Potential and Government Support
The Indian drone market is set to experience a huge expansion, with forecasts showing that it will reach a value of $13 billion by 2030, growing at a CAGR of 21% between 2022 and 2030. The appearance of several drone startups in India, backed by the government’s efforts to promote the country as a drone hub, proves that the country has a lot of potential for technological advancements and innovation in the UAS field.
Coromandel’s Strategic Investments
Coromandel’s investments in Dhaksha and other deep tech startups, like Ecozen, show its determination to increase its influence in the AgTech field. The company’s aim to use technology to improve agricultural productivity and to lead the way in precision agriculture practices shows that it is a forward-looking company which embraces innovative solutions in the agricultural sector.
Implications for the Industry
The acquisition of Dhaksha by Coromandel International Limited is not only a proof of the increasing significance of UAS technology but also a part of the trend of technology-led investments in the agricultural and deep tech sectors. It is indicative of a joint attempt to utilize drone technology to increase the use of resources, precision agriculture, and farm mechanization, in turn, promoting the sustainable agricultural practices.
Future Outlook
With Coromandel International’s increased stake in Dhaksha, the industry can expect a synergistic effort in the technological advancements in drone manufacturing and applications. The company’s vision of promoting technology adoption and cultivating the innovation in drones will enable the development of the unmanned aerial systems landscape in India and beyond.
Conclusion
The investment of Coromandel International in Dhaksha Unmanned Systems is a perfect illustration of a strategic move to strengthen the technological innovations in the UAS field, which is a part of the bigger trend of technology-led investments in agriculture and deep tech startups. The company’s vision of promoting the uptake of technology and developing the leading-edge innovations in drones shows its dedication to the progress of the UAS field and the growth of the Indian drone market.
Image Source: inc42
Disclaimer – We have collected this information from various trustworthy sources on the Internet, and the facts have been checked manually and verified by our In House team.
