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Defence, drone startups roll up sleeves to boost production
Economic Times
·
3m ago
Medial
Homegrown defence and drone startups in India are experiencing increased demand, driven by the conflict with Pakistan, which has prompted the Indian military to strengthen its arsenal. These startups emphasize the need for India to scale its manufacturing capabilities, reducing reliance on foreign technologies. Industry experts highlight the economic inefficiency of using costly missiles against low-cost drones and advocate for domestic counter-drone solutions. Collaboration and investment in indigenous technologies are crucial to enhance national security and self-reliance.
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Google plans to set-up drone manufacturing facility in Tamil Nadu
Internet
·
1y ago
Medial
Google officials recently met Tamil Nadu CM M.K. Stalin to discuss setting up a drone manufacturing factory in the state, reports say. India, aiming to lead globally, has 384 drone startups and anticipates ₹225 crore in 2024 revenue. Google's entry is expected to boost jobs and technology, though some fear monopoly. Experts predict increased adoption and opportunities for startups.
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IIT Madras, Starburst To Set Up Accelerator For Aviation Startups
Inc42
·
1y ago
Medial
The Indian Institute of Technology (IIT) Madras has partnered with French aerospace company Starburst Accelerator SARL to establish an innovation hub for startups in the aviation, space, and defence (ASD) sector. With a funding of 100 million euros, the initiative aims to mentor emerging Indian startups and help them raise external capital and accelerate development. The accelerator program will provide business tools for startups to scale up, promote exports, and explore international markets. The collaboration is part of India's efforts to reduce imports of defence equipment and support the indigenous production of defence technology.
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Drone startup Vayudh raises $10 Mn led by Dharana Capital
Entrackr
·
4m ago
Medial
Drone startup Vayudh raises $10 Mn led by Dharana Capital Defence technology startup Vayudh has raised $10 million in a new round led by Dharana Capital. The round also saw participation from Deepinder Goyal (founder of Zomato), Ajay Aggarwal (MD, Action TESA), Sumit Jalan, LetsVenture, and Navam Capital. Florintree Advisors had invested in Vayudh earlier. The proceeds will be used to strengthen research, grow manufacturing capacity, and speed up deployments for Indian defence forces. Founded in 2016 by Tanmay Bunkar, Anuj Barnwal, and Sarita Ahlawat, Vayudh develops drone platforms for battlefield intelligence, surveillance, and reconnaissance. The startup has worked on swarm drone technology and logged over 300,000 autonomous flying hours. In 2023, it received the iDEX Grant to develop India’s smallest surveillance drone. Vayudh recently launched Atri, a nano surveillance drone. Vayudh builds and tests its drones in India and focuses on UAVs for defence and security.
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IG Drones eyes aggressive defence foray
Livemint
·
1y ago
Medial
Drone technology company IG Drones is planning aggressive expansion in the drone manufacturing sector, with a focus on defence. The company is setting up a large-scale manufacturing plant in Vadodara, Gujarat, and aims to produce approximately 1,000 drones per year. The facility is expected to be launched in June and will initially operate at 30% capacity. IG Drones also intends to allocate 50% of its defence drone capacity for exports, with strong demand coming from Indian forces and Middle Eastern countries. The company is looking to raise around $5 million to support its technological advancements, including developing 6G drones.
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Defence tech startup Armory Raises Rs 13 Cr led by GrowX Ventures
Entrackr
·
2m ago
Medial
Defence tech startup Armory Raises Rs 13 Cr led by GrowX Ventures Defence-tech startup Armory has raised Rs 13 crore (around $1.5 million) in a funding round led by GrowX Ventures, with participation from Industrial 47, Antler, AC Ventures, Dexter Ventures, and several angel investors. The proceeds will be used to boost R&D, expand manufacturing, and speed up deployment. Founded in 2024 by Amardeep Singh, Armory develops indigenous counter-drone systems (C-UAS) capable of detecting, tracking, and neutralising rogue drones. Its flagship system, SURGE, has undergone field trials with multiple Indian Army units. The company’s technology is powered by Samaritan OS, an AI-led defence operating system offering real-time adaptability and continuous learning — features missing in traditional systems.
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Defence stocks surge up to 13% after India posts highest ever growth in defence production in FY24
Money Control
·
1y ago
Medial
Shares of defence companies saw a surge of up to 13% after India's defence minister announced a record-high growth in the country's defence production. The value of defence production reached Rs 1,26,887 crore in 2023-24, marking a 16.8% increase from the previous financial year. The Indian government aims to develop India as a leading global defence manufacturing hub and has set an ambitious target to export over Rs 50,000 crore worth of defence equipment by 2028-2029. The bullishness in the sector is also reflected in the robust subscription numbers of the Motilal Oswal Nifty India Defence Index Fund.
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Centre To Launch INR 2,000 Cr Drone Tech Incentive Scheme
Inc42
·
1m ago
Medial
The Indian government plans to introduce a INR 2,000 crore incentive scheme to boost the domestic drone industry over three years. This initiative seeks to localize the production of drones and related components, aiming for 40% localization by FY28. The scheme will encompass manufacturing, software, and anti-drone systems. Small Industries Development Bank of India (SIDBI) will provide affordable loans to support working capital and research and development for drone technology firms.
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Coromandel Invests INR 150 Cr In Drone Startup Dhaksha To Increase Stake To 58%
Inc42
·
1y ago
Medial
Agri-solutions provider Coromandel International plans to increase its stake in drone startup Dhaksha Unmanned Systems with a $18m investment. Coromandel's wholly owned subsidiary, Coromandel Technology Limited, will take its stake in Dhaksha from 51.02% to 58.01%. Dhaksha will use the funding to boost research and development efforts, handle larger orders, and meet working capital requirements. The Chennai-based start-up produces drones for use in sectors such as agriculture and defence, and provides remote pilot training. Coromandel first invested in Dhaksha in 2022 and increased its stake to 51.02% last year.
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Titan Capital and iDEX sign MoU to boost investment in iDEX
Economic Times
·
26d ago
Medial
Titan Capital has signed a Memorandum of Understanding with Innovations for Defence Excellence (iDEX), a Ministry of Defence initiative, to boost investment in India's defence and aerospace startup sectors. Titan, known for supporting startups like Ola and Urban Company, aims to provide early-stage funding, mentorship, and market access, particularly focusing on strategic and deep-tech sectors vital for national security. The partnership intends to fortify India's defence innovation by empowering emerging entrepreneurs.
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EndureAir is using deeptech and defence contracts to scale India’s drone capabilities
YourStory
·
1m ago
Medial
EndureAir, a deeptech drone company from Noida, India, is enhancing India's drone capabilities through innovative technology for high-altitude logistics and defence applications. Founded in 2018 by IIT graduates, the company builds full-stack drone systems, integrating AI for real-time processing. Its three main drone series—Vibram, Sabal, and Alakh—serve various sectors, including the Indian Armed Forces. Despite challenges in deep tech development, EndureAir aims to expand its offerings for both defence and civilian use, supported by both government and private funding.
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