Trentar acquires 75 pc stake in Noida-based drone service startup GarudaUAV
According to the official statement, the acquisition is aimed at scaling up new-age businesses based on drone services and software.
Dorf Ketal's group company, Trentar Pvt Ltd, announced the acquisition of 75 percent stake in Noida-based drone service provider GarudaUAV. The financial details of the deal remain undisclosed.
According to the official statement, the deal is aimed at scaling up new-age businesses based on drone services and software.
Brijesh Pandey, Founder and CEO of GarudaUAV, believes that the acquisition will provide a tailwind to the startup to boost its growth.
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Founded in 2017, GarudaUAV specialises in aerial data acquisition, analysis, and reporting. The startup leverages its AI-powered enterprise drone platform BlueHawk to collect, classify, analyse, and report data.
Recognised as an innovative startup by DIPP, GarudaUAV is involved in providing actionable aerial Intelligence for the O&M, mapping and survey functions.
“In the last four years, GarudaUAV had acquired more than 150 customers in more than 14 different verticals to become a formidable player in the Drone Based Services space. Efficient Service Delivery coupled with an intelligent platform has given us the leadership position in this space. This acquisition by Trentar will provide us the much-needed tailwind to boost our growth most effectively and that too in the shortest period," Brijesh said in a statement.
Subodh Menon, Founder of Dorf Ketal, explained that Trentar was launched with the aim to establish Dorf’s strong presence in new-age industries such as drone-based services/software, AI, robotics, circular economy among others.
Mumbai-based Dorf Ketal is a privately-owned global speciality chemicals company with a presence in the Asia Pacific, China, Europe, South America, and North America.
“Trentar has been launched with the objective of creating a strong presence for Dorf Ketal group in the New Age Industries like drone-based services/software, AI, robotics, and circular economy. This acquisition is strategic in nature as the plan is to transform GarudaUAV into a formidable enterprise through the global presence and goodwill of Dorf Ketal. We also plan to acquire companies with complimenting and cutting-edge technologies to take the delivery of GarudaUAV’s services notches ahead. The initial game plan is to create an enterprise predominantly through the inorganic growth route, globally,” Subodh says.
Sudhir Menon, Chairman at Dorf Ketal, said that it will be able to will help GarudaUAV be equipped instantaneously to work in verticals such as upstream and downstream of the oil and gas, ethylene sectors, and ensure safe implementation.
"Our primary expertise is focused on operational and environmental efficiencies. This acquisition is an advancement of our long-term goals," he adds.
Edited by Kanishk Singh