DroneAcharya, the drone startup founded by Prateek Srivastava in 2017, witnessed a 3.2% surge in its shares on Thursday following the announcement of a lucrative contract with Tata Consultancy Services (TCS). The boost in stocks came on the heels of a bulk deal where BofA Securities Europe SA acquired 1.67 Lakh shares in DroneAcharya, totaling over INR 3 Cr.
In an exchange filing, DroneAcharya revealed that the agreement with TCS involves the supply of a cutting-edge 5G-enabled drone equipped with a visual (RGB) camera. The deal also encompasses a ground control station designed for remote access and seamless live data relay. The collaboration’s scope extends to co-developing and co-engineering drone-based 5G solutions for sectors such as telecom, warehousing, energy, and more, spanning India and the global market.
DroneAcharya’s Strategic Focus:
- Integration of 5G Technology: The collaboration aims to integrate 5G technology with drones, enhancing data transmission speed and reliability.
- Diverse Industry Solutions: The partnership with TCS focuses on developing drone solutions for sectors like telecom, warehousing, and energy.
- Global Expansion: DroneAcharya’s contract with TCS spans across India and global markets, showcasing its commitment to international growth.
DroneAcharya has been actively offering drone-based enterprise solutions across various sectors, including oil and gas, mining, infrastructure, and agriculture. The company’s expertise extends to providing comprehensive training for drone piloting, building, data processing, and industrial drone applications.
The startup’s founder, Prateek Srivastava, emphasized the significance of integrating 5G with drones, stating that it will revolutionize data-intensive operations for diverse industries.
While DroneAcharya’s shares initially surged to INR 195 during intraday trading on BSE, the closing session saw a marginal dip, ending at INR 189.75. The company also issued a correction notice regarding a tender secured from the Haryana government’s Drone Imaging and Information Service of Haryana (DRIISHYA) project, clarifying the valuation at INR 1,41,00,000.
Over the past few months, DroneAcharya has secured multiple contracts, including an agreement to acquire a 51% stake in Pune-based PYI Technologies, a startup specializing in camera drones, DIY kits, and customized drones. Year to date, DroneAcharya’s shares have witnessed a remarkable gain of over 39%.
