How Deepak Bhardwaj is looking to be the ‘Drone-acharya’ of agri-tech world
Adgully has been turning the spotlight on the entrepreneurs who fought against all odds to bring their dreams to fruition in our special series – START-UP STARS. We at Adgully wholeheartedly support the ‘Vocal for Local’ movement and have been featuring numerous local/ homegrown businesses, brands, and Apps in the country launched in the last few years.
In conversation with Adgully, Deepak Bhardwaj, Co-Founder and Director of IoTech World Avigation, speaks about the origins of IoTechWorld Avigation, challenges that he faced while launching IoTechWorld, funding and investment for startups in India, and more.
Could you elaborate on the vision and mission of IoTechWorld Avigation? How do you plan to revolutionize the agriculture sector with your drone technology?
At IoTechWorld, our mission is to make advanced drone technology accessible and beneficial to small and marginal farmers, transforming traditional farming practices. This involves not only manufacturing drones, but also ensuring their effective integration into agricultural operations across diverse and remote regions.
We are committed to revolutionizing the agriculture sector by focusing on accessibility and affordability. Our innovative drone designs, which can be transported via bike or backpack ensure that even farmers in isolated areas can utilize these technologies without incurring high transportation costs. This accessibility is crucial for enhancing the profitability and efficiency of farming operations. Moreover, our drones are equipped with advanced sensors and cameras that facilitate precision agriculture, allowing farmers to conduct detailed crop monitoring, assess soil health, and manage irrigation more effectively. This leads to optimized resource use and increased crop yields.
Safety and efficiency are at the core of our approach.
Our drones feature obstacle detection, collision avoidance, and geo-fencing capabilities, ensuring safe and precise operations. These features are particularly important for tasks such as pesticide spraying, which not only improve operational efficiency but also protect farmers from exposure to harmful chemicals. In addition to this, we are dedicated to supporting the adoption of drone technology through training programs for remote pilots. By empowering local entrepreneurs and creating a robust support network, we are building a skilled workforce capable of operating and maintaining drone technology in agriculture.
What were some of the biggest challenges that you faced while launching IoTechWorld, and how did you overcome them?
Launching our company came with its fair share of challenges, which we tackled with determination and strategic planning. One of the primary hurdles we faced was the lack of infrastructure for drone manufacturing in India when we started in 2017. At that time, there was limited support for homegrown drone production, which meant we had to import components from countries like China and Japan and assemble them in India. This process was not only costly but also complicated by supply chain dependencies.
To overcome this, we focused on building our manufacturing capabilities. We started by producing a significant portion of our hardware components in-house at our Gurugram facility. Our goal is to achieve 100% indigenous production within the next few years by expanding our manufacturing operations, including setting up a new unit in Hyderabad. This shift towards local manufacturing not only reduces our reliance on imports but also aligns with the government's push for self-reliance in the drone sector.
How does your R&D team in India contribute to the development of your drone technology? Are there any recent breakthroughs or advancements you’d like to highlight?
Our R&D team is a cornerstone of innovation, constantly pushing the boundaries to develop cutting-edge solutions that meet the unique challenges of the agricultural sector. The R&D efforts are focused on enhancing the functionality, efficiency, and safety of our drones, ensuring they are well-suited for diverse applications in agriculture.
One of the significant breakthroughs our R&D team has achieved recently is the development of drones equipped with advanced sensors and AI capabilities. These innovations allow for precise crop monitoring and management, which is crucial for optimizing resource use and increasing crop yields. Our drones can now perform tasks such as soil health assessment, irrigation management, and pesticide spraying with remarkable accuracy, reducing waste and improving productivity for farmers.
Could you discuss the level of access to funding and investment for startups in India, and how IoTechWorld navigated this aspect during its growth?
The startup ecosystem in India is vibrant and full of potential, but accessing funding can be complex due to various factors. Initially, when we launched IoTechWorld, we faced the common challenge of limited access to formal funding channels. Like many startups, we began by bootstrapping, relying on our savings to get the business off the ground. We also focused on building a strong business model and demonstrating clear paths to profitability. This approach allowed us to maintain control over our operations and make strategic decisions without external pressures.
Over time, the funding environment in India has evolved significantly. While there was a period of cautious investment, recent trends indicate a resurgence in investor interest, as seen in the increased deal volumes and funding amounts in 2024. This environment has been beneficial for us as we expanded our operations and scaled our manufacturing capabilities. As the ecosystem continues to mature, we are optimistic about the potential for further investment and growth in the sector.
What are the government initiatives that you have benefited from or your sector benefited overall?
Government initiatives have had a significant impact on our growth and that of the drone sector as a whole. One of the most pivotal initiatives has been the Production-Linked Incentive (PLI) scheme, which aims to boost domestic manufacturing of drones and their components. This scheme aligns with the vision of ‘Atmanirbhar Bharat’ and provides financial incentives that have been instrumental in helping us scale our operations and reduce reliance on imports, thereby fostering self-reliance in the industry.
The Drone Rules, 2021, have also been a game-changer for us. These regulations have simplified the operational landscape by reducing the number of permits required and streamlining processes through the Digital Sky platform. This regulatory support has made it easier for us to manufacture, buy, and operate drones, significantly reducing bureaucratic hurdles and encouraging innovation.
What advice would you like to give young entrepreneurs in your sector?
To young entrepreneurs venturing into the drone sector, I say this – immerse yourself in both the technical and business sides of your enterprise. It is essential to grasp the intricacies of drone technology while also sharpening your skills in areas like market analysis and financial planning. When it comes to funding, focus on crafting a clear and sustainable business plan that can attract investors. Also, stay informed and compliant with industry rules, because regulatory compliance is crucial.
Above all, keep your customers at the heart of your business. Understand their needs and tailor your solutions to meet them effectively. By focusing on continuous innovation and customer satisfaction, you will be well-positioned to make a meaningful impact in this exciting and evolving industry.
How do you project the growth of the agricultural drone market in India compared to the global market? What are the key trends and drivers influencing this growth?
The agricultural drone market in India is experiencing remarkable growth, potentially surpassing the global market. India's market is projected to grow at a compound annual growth rate (CAGR) of 38.5% by 2030, driven by the increasing need for precision agriculture. Drones offer real-time data on soil health and crop conditions, optimizing resource use and boosting yields, which is crucial for India's agriculture-dependent economy.
Globally, the agricultural drone market is also expanding, with a projected CAGR of 31.5%, reaching $17.9 billion by 2028. However, India's growth is uniquely supported by government initiatives like the Production-Linked Incentive (PLI) program and subsidies for drone adoption in agriculture. These policies encourage domestic manufacturing and widespread use among farmers.
Key trends driving this growth include the integration of AI and machine learning in drones for enhanced capabilities and a shift towards sustainable farming practices. The government's vision to make India a global drone hub by 2030 further highlights the sector's potential.
Could you share more details about your plans to expand operations? What are the strategic goals for this expansion, and how do you plan to achieve them?
Our expansion into southern India is a strategic move aimed at enhancing our presence and service capabilities in this agriculturally rich region. The launch of our Agribot MX drone at the CODISSIA Agri Intex in Coimbatore marks a significant step in this direction. This drone is specifically designed to meet the advanced spraying needs of progressive farmers in the southern states, incorporating technologies like Radar-based ADAS and real-time data transmission.
IoTechWorld offers comprehensive sales and services across Pan India, ensuring nationwide accessibility and support. With this expansion, we intend to establish a robust distribution network and service infrastructure to support local farmers effectively. We are actively seeking channel partners in the region to facilitate this, ensuring that our advanced agricultural solutions are accessible to a wider audience. Also, we are planning to set up remote pilot training organizations (RPTOs) to build a skilled workforce capable of operating and maintaining our drones efficiently. By aligning with the Make in India initiative, IoTechWorld remains committed to manufacturing drone components domestically, which not only supports local economies but also enhances the quality and innovation of our products.
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