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Saturday / June 22. 2024
HomeAgribusinessBharatRohan raises 2.3 Mn USD funding to strengthen drone driven agri innovations

BharatRohan raises 2.3 Mn USD funding to strengthen drone driven agri innovations

With the newly secured funding, the company’s primary focus will be on developing proprietary edge computing drones specifically for precise crop monitoring and variable pesticide application.

BharatRohan, a pioneering agtech firm specialising in drone-based hyperspectral remote sensing, has announced the successful completion of a significant funding round. The company secured 2.3 million USD in a pre-IPO round from notable investors, including Villgro Innovation Foundation, Caspian, RevX, and Venture Garage (with a group of Ultra High Net Worth Individuals as investors), marking a strategic blend of debt and equity financing.

With the newly secured funding, the company’s primary focus will be on developing proprietary edge computing drones specifically for precise crop monitoring and variable pesticide application. These drones will be made available to rural entrepreneurs through franchise-based models, enabling them to offer CropAssure® Services to farmers. Additionally, the company plans to design and develop compact hyperspectral & multispectral sensors for drones.

BharatRohan is poised to expand its operations and offerings in 15 Indian states, covering 10 lakh acres by 2025. It has shown promising growth, increasing revenue 3x and profit by 200 per cent from the last financial year. While continuing to provide its drone-based crop monitoring Decision Support System (DSS), the company also ventured into procuring residue-free farm produce grown through Integrated Pest Management (IPM) practices implemented by farmers who utilise its BharatRohan CropAssure® Services. BharatRohan aims to introduce its pesticide residue-free farm produce to global consumers, thereby expanding its reach and impact on a global scale.

This strategy underscores BharatRohan’s dedication towards incentivising farmers to adopt technology-driven, sustainable, and residue-free farming practices. This investment marks a significant milestone in BharatRohan’s journey. “It strengthens our resolve to enhance our services and expand our reach across the nation, ensuring that farming becomes more scientific, sustainable, and profitable,” stated founders Amandeep Panwar and Rishabh Choudhary.

Vivek Kumar, founder at Venture Garage Expressed that “BharatRohan is in a unique position using latest technology to solve one of the oldest problems of continuously optimizing farming and bridge farmers to most profitable markets. Growing at a rapid pace, we at Venture Garage, strongly feel that BharatRohan is on track to not only build a company championing sustainable and scalable agriculture but also deliver great earnings for their investors”.

“BharatRohan is well-positioned to spearhead the transformation of agriculture through cutting edge drone technology, providing sustainable solutions to age-old farming challenges while driving positive change locally and globally. We, at RevX Capital, are happy to understand BharatRohan’s unique working capital gaps and partner to provide customised solutions”, added Sibadittya Baidya, AVP-Investements, RevX Capital.

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