BharatRohan Raises $2.3 Mn To Build Agri Drone Solutions; Eyes IPO On NSE Emerge

Update | May 7, 3:08 PM

The startup told Inc42 that it is preparing for an IPO on NSE Emerge in the coming months. The story has been updated on this basis.

Orginal Story | May 7, 14:11 PM

Gurugram-based agritech startup BharatRohan has raised $2.3 Mn (INR 19.2 Cr) from Villgro Innovation Foundation, Caspian, RevX, and Venture Garage as part of what the company said was a pre-IPO round. 

The startup told Inc42 that it is preparing for an IPO on the BSE SME Platform in the coming months, and more details about this public listing will be announced soon. 

The round, which was a mix of debt and equity funding, takes the total funding raised by the startup to INR 25 Cr.

The agritech startup said it would use the funds to primarily focus on developing proprietary edge computing drones specifically for precision farming, crop monitoring and pesticide applications. These drones will be made available to rural entrepreneurs through franchise-based models.

Additionally, the startup plans to design and develop compact hyperspectral & multispectral sensors for drones.

Founded in 2016 by Rishabh Choudhary and Amandeep Panwar, BharatRohan currently claims to be working with 50,000 farmers across five states, spanning 2 Lakh acres, with its drone-based decision support system (DSS) called BharatRohan CropAssure.

The startup provides farmers access to real-time, data-driven insights allowing them to take more informed decisions, optimise resources and make their crops more resilient to climate change and erratic weather patterns.

BharatRohan’s profit surged by almost 200% compared to the previous financial year, with operating revenue reaching INR 6.47 Cr for the year ended March 31, 2023, up from INR 2.11 Cr for the year ended March 31, 2022.

It aims to expand its operations and offerings in 15 Indian states, covering 10 lakh acres by 2025. 

The drone tech sector is growing rapidly in India, with the potential to impact industries like manufacturing, agriculture, and defence. The growing usage and demand for drones have led to the emergence of numerous Indian startups in this space over the past decade. 

According to Inc42’s Indian Drone Tech Startup Landscape & Market Opportunity Report 2023, the Indian drone market is predicted to reach a size of $13 Bn by 2030 from $2.71 Bn in 2022.

Among the 200 current drone tech startups, notable names include Garuda Aerospace, Marut Drones, BonV Aero, Skylark Drones, Skye Air Mobility, and Preimage. Besides, two drone tech startups – ideaForge and DroneAcharya Aerial Innovations – have even gone on to list on the exchanges.

DroneAcharya listed on the BSE SME Platform in December 2022, whereas ideaForge listed on the main board of the Bombay Stock Exchange in July 2023. 

Besides providing farmers with technology solutions for farm monitoring, the company also supplies residue-free farm produce to retailers. This produce is said to be grown using integrated pest management (IPM) practices by farmers who utilise the BharatRohan CropAssure services. 

The startup claimed it aims to export pesticide residue-free farm produce globally, thereby expanding the reach for Indian farmers.