Coromandel Int'l pumps in Rs 200 mn in drone start-up

CHENNAI: Coromandel International Limited, an agri solutions company and part of Murugappa Group, has made strategic investments in technology-led agriculture and is looking forward to using AgTech to support farmers in increasing their productivity through the adoption of precision agriculture.

The company also recently invested Rs 200 million into a differentiated drone start-up, Dhaksha Unmanned Systems Private Limited.

The investment was made through Coromandel's venture capital arm, Dare Ventures, as per a release.

It said the Centre has been encouraging the use of drone technology for agriculture applications like liquid/nano fertilisers and crop protection chemicals.

In December last year, the Government released SOPs (Standard Operating Procedures) for drone regulation for pesticide application. These covered important aspects like statutory provisions, flying

permissions, area distance restrictions, weight classification, overcrowded areas restrictions, drone registration, safety insurance, piloting certification, operation plan, air flight zones and weather conditions.

Arun Alagappan, executive vice chairman, Coromandel International, said "As part of our technology focus, we are closely partnering with the start-up ecosystem and strengthening our presence in the Agtech space. Our investment in Daksha reflects this endeavour and gives us a strong position in the Unmanned Aerial Systems (UAS) technology solutions area."

"With focus on resource use efficiency, the drone adoption in agriculture holds significant potential to improve agri inputs effectiveness, reduce water usage, boost farm mechanisation and drive precision

agriculture practices. There has also been good support from the government to improve its adoption in agriculture in terms of policy and regulatory support,"he said

"We will continue to promote such technologies that can drive productivity gains and sustainable agricultural practices in the Indian farms," he added.