Founded in 2015 by mechanical engineer Farzin Irani and aerospace researcher Prakhar Nandi Srivastava, Pune-based Aethrone Aerospace is developing indigenous vertical take-off and landing (VTOL) drones and specialised defence technologies for the Indian Army and Indian Navy.

The company was established to address longstanding challenges within India's defence sector, where expensive imported equipment and labour-intensive operational practices have often increased costs and logistical complexity.

One example highlighted by the founders is the Indian Navy's use of manned helicopters for tasks such as calibrating shipboard guns with radar systems. Aethrone Aerospace is working to replace such manpower-heavy operations with automated drone-based solutions that can perform similar missions more efficiently and at a significantly lower cost.

Aethrone Aerospace has emerged as an iDEX-winning defence partner focused on mission-critical aerial systems, advanced safety technologies, launcher systems, parachute recovery solutions and unmanned aircraft designed for military applications.

Farzin Irani, who previously built a mechanical engineering design firm before entering the aerospace sector, leads the company's structural and mechanical development activities. Prakhar Nandi Srivastava, who studied at IIT Kanpur and received early incubation support through the institute's innovation ecosystem, contributes expertise in flight dynamics, business strategy and financial management.

The partnership began around 2014 when Prakhar worked as an intern at Farzin's engineering firm. Both initially envisioned developing automated flying vehicles for urban transportation. However, after assessing market realities, they concluded that India's aerospace ecosystem and supply chains were not yet mature enough to support such ambitions at scale.

Instead, they adopted a more sustainable strategy focused on engineering services and defence technologies. Reflecting on that decision, Farzin Irani said: "In business, especially in high-risk industries, you must always have multiple backup plans running in parallel.

Relying entirely on one strategy can be dangerous because setbacks are inevitable. If Plan A faces delays or fails, you should already have Plan B, Plan C, and other alternatives progressing at the same time."

The founders operated from a modest flat in Pune during the company's early years. Apart from an initial grant of approximately ₹12 lakh secured through the Start-up Incubation and Innovation Centre at IIT Kanpur, the business was largely built without major external funding.

To finance its ambitious aerospace development efforts, Aethrone created multiple revenue streams. The company provided engineering design and computational fluid dynamics services to organisations including L&T, Godrej and Hindustan Aeronautics Limited, while simultaneously developing drone parachutes and launcher systems.

This diversified approach enabled Aethrone Aerospace to fund research, testing and product development during the lengthy and expensive trial-and-error process associated with aerospace innovation.

Today, the company develops target drones, search-and-rescue drones, gunnery alignment drones, launcher systems and parachute-based recovery technologies. Its target drones are already being used by the Indian Army and Indian Navy during anti-drone training exercises.

Aethrone Aerospace has delivered roughly 35 to 40 target drones, sold more than ten launcher systems and supplied parachute recovery systems to multiple drone manufacturers across India.

The firm's financial performance has also strengthened considerably. Revenue grew from around Rs 1 crore in FY24 to approximately ₹3-4 crore in FY25 and reached about ₹8.5 crore in FY26. The company is targeting revenue of nearly ₹15 crore in FY27.

Beyond current deployments, Aethrone Aerospace continues to expand its capabilities across autonomous aerial systems, advanced composites, airborne launch-and-recovery technologies and military-grade unmanned platforms. Industry assessments have also highlighted its work in AI-enabled maritime and naval drone operations, positioning the company among the emerging contributors to India's growing indigenous defence technology ecosystem.

By combining indigenous engineering with practical military applications, the Pune-based Start-Up is helping reduce dependence on imported systems while supporting India's broader push towards self-reliance in advanced defence technologies.

Agencies