Venture Garage in their endeavor to take their profitable portfolio companies to an IPO, helps BharatRohan in securing $2 million+ in a private placement round with an eye on an SME-IPO withing FY24-25

09th May 2024: Gurugram-based agritech startup BharatRohan, specializing in drone-based hyperspectral remote sensing, has successfully secured $2.3 million in a pre-IPO round of funding from investors. This investment includes contributions from Villgro Innovation Foundation, Caspian, RevX, and Venture Garage, with participation from a group of ultra-high net-worth individuals. The financing comprises a combination of debt and equity financing.

Founded in 2016 by Rishabh Choudhary and Amandeep Panwar, BharatRohan currently claims to be working with 50,000 farmers across five states, spanning 2 Lakh acres, with its drone-based decision support system (DSS) called BharatRohan CropAssure.

“I’m thrilled to announce BharatRohan’s ambitious plans for expansion. By 2025, we aim to extend our operations and offerings to encompass 15 Indian states, covering a sprawling 10 lakh acres. Our relentless dedication to innovation and excellence has yielded remarkable results, with our revenue tripling and profits soaring by 200% compared to the previous financial year. This growth not only reflects our commitment to success but also underscores our unwavering focus on delivering value to our stakeholders. We’re excited about the journey ahead and the opportunities that lie in store for BharatRohan,” 

–Amandeep Panwar, Co-Founder & CEO at BharatRohan

“As someone immersed in the tech landscape, I’ve witnessed the rapid growth of India’s drone sector. Drones are poised to transform industries like manufacturing, agriculture, and defense. Over the past decade, we’ve seen a surge in Indian startups entering this space to meet growing demand. Looking ahead, the outlook for the Indian drone market is impressive. Projections suggest it will soar from $2.71 billion in 2022 to $13 billion by 2030. This underscores the pivotal role drones will play in shaping India’s industrial future.“

-Vivek Kumar, Co-founder & CEO of Venture Garage

BharatRohan would use the funds to primarily focus on developing proprietary edge computing drones specifically for precision farming, crop monitoring and pesticide applications. These drones will be made available to rural entrepreneurs through franchise-based models. Additionally, they plan to design and develop compact hyperspectral & multispectral sensors for drones.

To know more about Bharat Rohan: click here