DroneAcharya has signed an MoU with US-based American Blast Systems (ABS) to co-design and develop drones, expanding into the American, European, and UK markets.
The collaboration will target sectors like defense, law enforcement, agriculture, and logistics, with drones manufactured in Los Angeles for applications in surveillance, security, and logistics.
The company went public in December 2022 at a listing price of INR 102 per share, a significant premium over the issue price of INR 54 apiece.
Listed drone startup DroneAcharya has joined hands with American Blast Systems (ABS) to expand its footprint into the US, UK and European markets.
The MoU will focus on manufacturing and distributing drones across sectors such as defence, law enforcement, agriculture and logistics.
Under the partnership, both companies will co-design and co-develop drones in Los Angeles, with applications targeted at surveillance, security, and logistics.
“This partnership opens up a vast overseas market for DroneAcharya’s drone hardware and services. We see tremendous potential in this collaboration, which positions India at the forefront of the global drone industry,” said Prateek Srivastava, founder and managing director of DroneAcharya.
Founded in 2017, DroneAcharya provides drone solutions including multi-sensor surveys, pilot training, and data processing.
The company went public in December 2022 at a listing price of INR 102 per share, a significant premium over the issue price of INR 54 apiece.
Financially, DroneAcharya has shown strong growth, with operating revenue increasing nearly 90% to INR 35.19 Cr in the financial year ending March 2024, up from INR 18.56 Cr in FY23.
The company also reported a consolidated profit after tax (PAT) of INR 6.2 Cr in FY24, almost double the INR 3.42 Cr from the previous fiscal year.
In January, DroneAcharya secured a contract from the Indian Army to provide capacity building and advanced drone training at the Mechanised Army Courses Group in Ahmednagar.
Earlier this year, the startup also received an order from the Adani Group to provide Directorate General of Civil Aviation (DGCA) certified drone pilot training, aimed at supporting drone operations for mapping, monitoring, and inspection across Adani Group’s diverse businesses in energy, infrastructure, logistics, resources, and agribusiness.
Notably, DroneAcharya expanded into the drone manufacturing and spacetech industries last year.
