Adani Group bought 50% stake in this drone startup, know what is the deal?

Adani Defense Systems and Technologies Limited, a subsidiary of Adani Enterprise Limited (AEL), on May 27, 2022 bought 50% stake in agricultural drone startup General Aeronautics. The company has given information about the binding agreement. Adani Enterprises said the acquisition process would be completed by July 31, 2022. However, the company did not disclose the financial details of the agreement. Shares of Adani Enterprise climbed 2% to Rs. Closed at 2,085.

Drone Festival underway in New Delhi
Bengaluru-based General Aeronautics has developed robotic drones for technology-based crop protection services, crop health monitoring and yield monitoring services using artificial intelligence and data analytics. The acquisition comes at a time when Prime Minister Narendra Modi has invited investors from across the world to invest in India’s drone industry. It is worth noting that on Friday, Prime Minister Narendra Modi inaugurated India’s biggest drone festival – India Drone Festival 2022. Let us tell you that the India Drone Festival is a two-day event on May 27 and 28. Which has been organized at Pragati Maidan, Delhi.

What did the company say?
The Adani Group company said it will leverage its military drone and AI/ML capabilities and work with General Aeronautics to provide a complete solution for the local agriculture sector. Let us tell you that General Aeronautics is an end-to-end agri platform solutions company based in Bangalore. It provides solutions for robotic drones and crop protection services, crop health, precision-cultivation and yield monitoring.

What is this Adani subsidiary doing?
Adani Defense has set up India’s first unmanned aerial vehicle manufacturing facility, India’s first private sector small arms manufacturing facility. India’s first comprehensive aircraft MRO facility is currently in the process of being set up at Nagpur.

What did PM Modi say?
Inaugurating the India Drone Festival in New Delhi, Prime Minister Narendra Modi said, “I hope that there will be more experiments in the use of drones in the future. I am again inviting investors from across the country and the world. Industry, Drones For this I also appeal to the experts to make it more accessible to the people. I want to appeal to the youth to come up with new drone startups.”