DroneAcharya Aerial Innovations, a drone startup specializing in enterprise solutions, has announced its acquisition of a 51% stake in PYI Technologies Pvt Ltd, a Pune-based startup offering camera drones, DIY kits, and customized drones. The financial terms of the deal have not been disclosed, with DroneAcharya stating that the specifics will be finalized in due course.
In a filing with the Bombay Stock Exchange (BSE), DroneAcharya highlighted the strategic significance of the acquisition, stating that it will play a crucial role in the company’s expansion plans. The move is aimed at broadening DroneAcharya’s service portfolio and enhancing its offerings within the drone industry.
Established in 2017 by Prateek Srivastava, DroneAcharya provides drone-based enterprise solutions across various sectors such as oil and gas, mining, infrastructure, and agriculture. The company also offers training in drone piloting, drone building, drone data processing, and industrial drone applications.
PYI Technologies Pvt Ltd, founded by Abhigyan Ranjan in 2022, specializes in providing beginner-friendly models of custom camera drones and DIY drone kits.
In another filing, DroneAcharya revealed that it has secured a tender valued at INR 1.4 crore from the Haryana government’s Drone Imaging and Information Service of Haryana (DRIISHYA) project for the supply of surveying drones. Prateek Srivastava expressed optimism about the tender, highlighting the growing adoption of drones in various workflows in Haryana.
Earlier this year, DroneAcharya signed a franchise agreement worth $2.7 million (INR 23 crore) with Switzerland’s Wollstone Capital SA to establish 30 remote pilot training organizations (RPTOs) across India. The move was aimed at boosting drone sales, services, and certified training, with a goal of training 500 pilots to enhance the skilled workforce in India’s drone sector.
In the first half of FY24, DroneAcharya reported a significant increase in profit after tax (PAT), reaching INR 3.97 crore compared to INR 13.09 lakh (0.13 crore) in the corresponding period of the previous fiscal year. The company’s operating revenue also saw a substantial rise of 998% to INR 20.89 crore in H1 FY24 from INR 1.9 crore in the same period of the previous fiscal.
DroneAcharya has also expanded its operations into the spacetech sector, announcing in August that it successfully tested a reusable rocket launch vehicle reaching an altitude of 3 kilometers. The company claimed to have landed the vehicle with a parachute and recovered all vital sensors and equipment.
The acquisition of PYI Technologies Pvt Ltd marks a significant development for DroneAcharya as it continues to strengthen its position in the drone industry and expand its offerings in India’s rapidly growing market for drone technology.
