Lt-Cdr John Livingstone, CEO Johnnette Technologies with Rajiv Vermani, Director and CEO Digital and Automation Hardcastle Petrofer
Johnnette Technologies, a successful bootstrapped Indian UAV manufacturer, has raised close to a Million dollars from Hardcastle Petrofer as it looks to scale up its UAV manufacturing and Drone pilot training business.
The global drone market is expected to experience remarkable growth in the coming years owing to the rise in the use of drones in military and commercial sectors all across the globe. The UAV sector holds tremendous opportunities and if unleashed, has the potential to transform many of the sectors and could contribute 4-5 % to India’s GDP, due to multiplier effect. As per NITI Aayog estimates, the Indian market for UAV will be $50 billion over the next 15 years.
With a vision to create cutting edge drones and to meet the growing demand of drone pilots across the world, Lt Cdr John Livingstone – Founder and CEO, started his entrepreneurial journey after retiring from the Indian Navy and founded Johnnette Technologies Private Limited in 2014. Since then, the company has been a pioneer in the development of cutting-edge products for the Military and Commercial applications.
“The investment is intended to be utilized for product development and expansion of our team. We provide cost-effective and high-quality indigenous products to the Defense forces and this investment will help us refine our existing line of products and enter the untapped market with a solution for industrial based applications.”
says Lt Cdr John Livingstone.
“We are thrilled to associated with Johnnette Technologies and we strongly believe that the Indian drone industry will soon be the drone hub of the world”
says Achal Jatia, Chairman, Hardcastle Petrofer.
Source: Press Release