New Delhi: DroneAcharya Aerial Innovations, a publicly listed company, has signed a term sheet with Gurugram-based AVPL International to form a joint venture aimed at advancing drone manufacturing in India. The collaboration, potentially named AVPL DroneAcharya, will focus on developing drones for agriculture, logistics, surveillance, and other industrial uses.
Focus on Expanding Drone Capabilities
AVPL International, owned by AITMC Ventures Ltd, operates across 12 Indian states and specializes in drone training, agriculture services, and drone-based solutions. It also manages several incubation and skill hubs. Pune-based DroneAcharya is one of the few private entities licensed as a remote pilot training organization by the Directorate General of Civil Aviation (DGCA) and offers training, services, and surveillance solutions.
The combined expertise aims to leverage AVPL’s network in agri-input retail and drone training along with DroneAcharya’s technical know-how and operational experience.
Financial Context of AITMC Ventures
AITMC Ventures reported significant financial growth in FY 2023-24, with its operating revenue rising by 95.2% to ₹41.87 crore. Profits for the same period increased by 82.6%, reaching ₹8.84 crore. This financial momentum positions AVPL International to contribute effectively to the joint venture’s goals.
DroneAcharya’s board has also approved an Employee Stock Option Plan (ESOP) to enhance employee engagement and align staff efforts with organizational growth. The ESOP is expected to play a pivotal role in driving the company’s expansion post-merger.
Industry Backing
DroneAcharya, founded by Prateek Shrivastava, has attracted investments from well-known figures, including actors Aamir Khan and Ranbir Kapoor, and market veteran Shankar Sharma. The joint venture reflects the growing interest in strengthening India’s domestic drone manufacturing ecosystem to meet rising demand in critical sectors.
