Buoyed by the exponential growth potential of the Drone Industry, leading Kisan Drone (Agricultural Drone) manufacturer IoTechWorld Avigation Private Limited today said it is aiming multi-fold growth in both values and volume terms, in the current fiscal.
The Gurugram-headquartered company is targeting to sell more than 1,000 Kisan Drones during 2022-23 and is aiming to capture lions share in Kisan Drone market, which is likely to be ₹5,000 crore by 2025-26.
To fund its growth ambitions, India’s First Type certified Drone manufacturer is in advanced talks with investors to raise funds, which will be utilized for expansion. Last year, the company raised around Rs 30 crore from leading agrochemical company Dhanuka Agritech. The company has been selected for the Production Linked Incentive (PLI) Scheme for Drone & Drone components.
IoTechWorld Avigation’s flagship drone ‘AGRIBOT’ is a multi-purpose Kisan drone supporting spraying, granule broadcasting and crop health monitoring.
Commenting upon the robust growth plan, Deepak Bhardwaj & Anoop Upadhyay, Co-founder, IoTechWorld Avigation explained Major initiatives of IoTechWorld Avigation Pvt. Ltd.:
1. Company is working to indigenize all components within 1-2 years. Company is selected under Product Linked Incentive (PLI) scheme of Government of India.
2. Company has conducted many campaigns and Drone Yatra of 15000 KM across India for educating farmers on benefits of drone in Agriculture.
3. To increase employment, IoTechWorld Avigation is developing village level entrepreneurs and service partners.
4. Company has own centres in 12 States which is helping farmers. A new entrepreneur is able to avail finance (loans) benefits under Agri Infra Fund
5. IoTechWorld has launched our DRASS model mobile app which is helping new entrepreneurs in getting business and small and marginal farmers in availing drawing services
6. Company has launched Bike back Drone model and new Lithium Ion batteries to reduce cost of operating drone and increase mobility of drone
7. Company is opening RPTO (Remote Pilot Training Organisation) with different state governments. This will offer pilot license course at very low cost.
8. Many KVKs, ICAR institute, State Agri universities have procured drones from us and now we are enabling them so that they can give demonstration and can educate the local farmers.
9. It is working with almost all major plant protection chemical manufacturing companies and working to increase the bio efficacy of all plant protection chemicals everyday.
10. Multi-lingual (Hindi, Punjabi, Telugu, Marathi, Tamil, Kannad etc.) based user interface for ease of use by Farmer friends.
11. Subsidy ranging from 40-100% is being provided by the Government for faster adoption of Kisan Drones. IoTechWorld Avigation is empanelled with various state Governments like Madhya Pradesh etc.
“Clearly, the growth opportunity is humungous and IoTechWorld Avigation for its pioneering efforts and vision is likely to gain major of the Kisan Drone market,” the Founders added.
As per a recent report by FICCI–EY, the drone market is likely to become $30 billion by 2030. Agriculture Drone market is estimated to contribute around 30% of the overall drone market.