DroneAcharya Partners Switzerland’s Wollstone Capital To Open 30 Pilot Training Academies

Drone startup DroneAcharya Aerial Innovations has signed a franchise agreement with Switzerland’s Wollstone Capital SA to open 30 remote pilot training organisations (RPTOs) across India.

In an exchange filing, DroneAcharya said the deal between the companies amounts to $2.7 Mn (INR 23 Cr). The RPTOs would help boost drone sales, services and certified training.

“DroneAcharya through its partnership with Wollstone will become an integral source of major development in the drone sector as it will increase the number of RPTOs by a significant number and make the technology, training and jobs reach all across the country,” the startup said.

Without giving further details, DroneAcharya said the deal has been signed to open over 100 training centres in total.

Founded in 2017 by Prateek Srivastava, DroneAcharya offers drone -based enterprise solutions  across sectors including oil and gas, mining, infrastructure, and agriculture. It also provides training for drone piloting, drone building, drone data processing, and using industrial drone applications, among others. 

The startup, which listed on BSE SME in December last year, claims to have trained more than 500 DGCA certified drone pilots since its inception. With the new franchises, the startup plans to train 500 more pilots which, it said, will give a major boost to the skilled workforce in the Indian drone sector.

Commenting on the new move, founder and MD Srivastava said, “As we speak, we are already working with Wollstone Capital to cater to their international clients in the Middle East, Europe and Central Asia. This is a remarkable moment for an Indian drone startup to expand its wings within India and conquer the world at the same time.”

Of late, the startup has been on an expansion spree, looking to enter newer areas. Earlier this year, it partnered Gujarat-based robotics company Gridbots Technologies to venture into the drone manufacturing industry. 

Recently, DroneAcharya also announced its foray into the spacetech industry by testing a reusable rocket launch vehicle. DroneAcharya claimed it successfully landed the vehicle with the help of a parachute and was able to recover all vital sensors and equipment. 

DroneAcharya reported a 742% year-on-year (YoY) jump in its net profit to INR 3.42 Cr in the financial year 2022-23 (FY23). Operating revenue ballooned 417% YoY to INR 18.57 Cr in FY23.

Shares of the company were trading 5.65% higher at INR 186 on the BSE at 2:30 PM IST on Wednesday (September 20).