In a swift move following the historical landing of Chandrayaan-3 on the Moon, drone manufacturer DroneAcharya announced its entry into the spacetech sector on Wednesday (August 23).
DroneAcharya Successful Test of Reusable Rocket Launch Vehicle
DroneAcharya reported the successful testing of a reusable rocket launch vehicle in a press statement. The vehicle achieved an altitude of 3 kilometers above the ground surface.
Founder’s Insight on the Test Launch
Prateek Srivastava, Founder and Managing Director of DroneAcharya, revealed that the launch took place on August 21 at an international location. The company evaluated the flight’s results on August 23.
Alignment with Existing Tech Solutions
Srivastava highlighted the synergy between DroneAcharya’s spacetech initiative and its existing drone tech solutions. He explained that while drone tech solutions focus on micro-level imagery and situational studies, the spacetech initiative contributes to broader climatic studies.
DroneAcharya Future Goals and Expansion Plans
DroneAcharya has a goal: raise launch vehicle altitude to 10 kilometers and triple payload capacity. The aim is to collect atmospheric and meteorological data. The company also strives for reusable rocket launch vehicles in the nano/micro category. These vehicles will have applications in suborbital testing and aerospace systems, among others. DroneAcharya’s vision includes forming a constellation of satellites for civilian, aircraft, and defense purposes. The company underscores its “Made In India” approach, designing the launch vehicle entirely within the country.
With a successful IPO earlier this year, DroneAcharya secured expansion funding, allowing it to pursue more ambitious opportunities. Founded in 2017, DroneAcharya provides a range of drone solutions and training programs. The company’s strong financial performance was evident, with a 742% YoY increase in profits to INR 3.42 Crores in FY23, along with an operating revenue of INR 18.57 Crores. The company’s shares experienced a 1.91% decrease, closing at INR 156.40 on the BSE SME platform on August 23.
