Agri-drone manufacturer IoTechWorld Avigation targets to increase sales of its unmanned aerial vehicles six-fold to 3,000 this financial year by leveraging its network across India and entering new overseas markets in Russia, Africa, Brazil, and the SAARC.
IoTechWorld, India’s first firm with DGCA’s Type Certificate (TC), is set to expand its product line with the launch of several new types of unmanned aerial vehicles, including new model of agricultural drone — AGRIBOT A6 and surveillance drones, during 2023-24. Adding new products will increase the company’s market share and competitiveness in the market.
However, the agri-drones will always remain the product of the company.
The company celebrated its sixth Foundation Day on April 22 and unveiled a new “A6” version of its popular agricultural drone “AGRIBOT”. This latest variant of the drone is designed to be more compact and portable than its predecessor, which should make it easier to transport.
“Last financial year, we had a successful business and sold close to 500 agri drones. It’s encouraging to see the growing awareness about the benefits of using drones in agriculture, and the support from both central and state governments in promoting their use,” said Deepak Bhardwaj, Co-founder of IoTechWorld Avigation.
Talking about the company’s future plans, Bhardwaj said that it aims to sell 3,000 drones this year. “With our focus on innovative technology, competitive pricing, and effective marketing strategies, we are confident in our ability to meet this goal and continue to contribute to the adoption of drone technology in agriculture,” he added.
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He further said that the company has achieved 5-fold growth over last year.
Currently, IoTechWorld is the sole drone manufacturer in the country having have a pan-India presence.
On the company’s export plans, Anoop Upadhyay, Co-founder and Director, stated that IoTechWorld has huge potential to expand its drone business in foreign markets, as many potential buyers in various countries are hesitant to import drones from China due to concerns about inadequate after-sales service and anti-China sentiment.
“We are targeting key overseas markets, including Russia, Africa, Brazil, and South Asian nations. We are already in talks with potential buyers in these regions,” said Upadhyay.
Leading agri-tech company Dhanuka Agritech has also invested in IoTechWorld. Moreover, Syngenta India has partnered with the company to develop services model and upskill Agri–entrepreneurs across India.
Read also: IoTechWorld, Syngenta join hands for commercial DaaS business model
Bhardwaj stated that the use of AGRIBOT drone for agriculture, is highly economical for farmers since they can save a significant amount on inputs such as agrochemicals, fertilizers, and water while achieving significantly higher crop yields than with conventional methods. Additionally, the use of drones saves farmers a considerable amount of time and offers health benefits as well.
Upadhyay stated that the new model of the “AGRIBOT” is more compact due to a successful redesign of the wings and related parts. IoTech has also developed India’s 1st and Only Bike Model The re-designed model makes the Bike Drone more practical and convenient for users who need to transport it to different locations.
IoTech’s drones have a minimum of 70% Made-in-India components, and their prices are expected to decrease as more are sold locally. The company is also increasing the use of local components.
The company said that the Production Linked Incentive (PLI) scheme for the sector is going to be a game-changer and India will soon become a major player in drone manufacturing globally.
