Coromandel Boosts Stake in Drone Startup Dhaksha with INR 150 Cr Investment

Coromandel International, a listed agri-solutions provider, has increased its stake in Chennai-based drone startup Dhaksha Unmanned Systems. The investment of INR 150 Cr (approximately $18 Mn) will be made through Coromandel’s wholly owned subsidiary, Coromandel Technology Limited. This move will raise Coromandel’s stake in Dhaksha from 51.02% to 58.01%.

Dhaksha, founded in 2019, specializes in Unmanned Aerial Systems (UAS) technology solutions across various sectors, including agriculture, defense, surveillance, and enterprise applications. The fresh capital infusion will support Dhaksha’s research and development efforts, enhance its ability to handle large orders, and meet working capital requirements.

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