DroneAcharya partners with Gridbots Technologies for drone manufacturing, stock down by 4%

DroneAcharya Aerial Innovations Ltd on Monday announced that the company has partnered with Ahmedabad based Gridbots Technologies Private Limited, for manufacturing of drones and other purposes.

DroneAcharya Aerial Innovations said that the company has partnered with Gridbots for manufacturing drones, to develop more products and new technologies, cross selling of products and services developed together and which are offered currently and for mutual sharing of technology, knowledge, network and resources for projects.

Due to this partnership, DroneAcharya will be starting a new business vertical where it will manufacture drones.

For this, the company will be setting up its own manufacturing unit in the city of Pune where its corporate office is situated.

"The collaboration will combine DroneAcharya's expertise in drone technology and Gridbots’s resources for capturing the Indian and international markets thus widening the horizon for DroneAcharya’s existence and customer base internationally," said DroneAcharya in its filing.

The Memorandum of Understanding (MoU) between DroneAcharya Aerial Innovations Limited and Gridbots Technologies Private Limited was executed on 27 February, 2023.

The company's scrip was down by 4.64 per cent at ₹148 on BSE.

The DroneAcharya Aerial Innovations, , which made its market debut on December 23, 2022. The stock touched its 52-week high of ₹243.35 on 12/01/2023, while it touched its 52 week low of ₹96.90 on 23/12/2022.

DroneAcharya is engaged in enterprise drone solutions for mining, agriculture, oil and gas, powerlines, highways, shipping, and urban and rural planning.

The company is a Directorate General of Civil Aviation (DGCA) authorized Remote Pilot Training Organisation (RPTO) offering training in drone construction, aerial cinematography, data processing, Python for GIS, drones in agriculture, drones for disaster management, and lastly droneracing.

Gridbots was founded in 2007 by Pulkit Gaur. The company specializes in robotics, artificial intelligence, and machine vision. They are headquartered in Ahmedabad, with offices in Pune and Delhi.