Agriculture solutions provider Coromandel International will acquire an additional seven percent stake in Dhaksha Unmanned Systems for Rs 150 crore taking its shareholding in the Chennai-based drone maker to 58 percent. The acquisition will be through its subsidiary, Coromandel Technology.

The proceeds from the fundraise will help Dhaksha strengthen research and development efforts, for servicing large orders and meeting working capital needs, The investment in Dhaksha aligns with Coromandel’s diversification endeavour in technology spaces and promoting technology adoption across various spheres.

Coromandel has been associated with Dhaksha from start-up stage, supporting the company on talent acquisition, R&D and production ramp-up. Dhaksha has strengthened its technological capabilities, investing in research activities to develop new products and applications.

Dhaksha, incorporated in 2019 provides a range of unmanned aerial systems (UAS) for use in agriculture, defence, surveillance and enterprise applications. It also offers remote pilot training services.

The company bagged several orders from defence and agri input companies last year and its order book stands at Rs 265 crore. It has recently expanded production capacity, with a manufacturing facility established on the outskirts of Chennai, Tamil Nadu.