Capital IQ, a boutique investment consultancy firm, announced its strategic acquisition of Karman Drones, a drone designing company specializing in Indigenous designs for defense and civil purposes at a valuation of ₹75 crore.
This acquisition marks Capital IQ’s entry into the rapidly growing drone sector, aligning with its vision to invest in sustainable and innovative technologies.
By partnering with Karman Drones, Capital IQ aims to accelerate the company’s growth, drive expansion, and effectively position it for a successful IPO in the coming years.
Karman Drones has successfully developed four best-in-class drones: Pratham (for the civil sector) and Pratham Pro (for the defense sector), Tethered Drones for 24-hour continuous monitoring, and Long Endurance VTOL Fixed Wing Drones.
Currently, Karman is working on developing Kamikaze drones with VTOL and recovery capabilities. The company has established strong partnerships with the government defense sector and civil market and is aggressively pursuing new developments, export opportunities, and expansion into the space industry.
“Capital IQ’s acquisition will accelerate Karman Drones’ mission to revolutionize the drone industry. With their expertise and resources, we will further enhance our product offerings and our focus on innovation and indigenous designs will continue to drive our success,” said Pavan Shetty, Co-founder of Karman Drones.
“We are thrilled to integrate Karman Drones into the Capital IQ ecosystem, harnessing their pioneering spirit and cutting-edge technology to propel India’s drone revolution. This strategic acquisition embodies our commitment to empowering innovative entrepreneurs and fostering sustainable growth in the drone industry. Together, we will unlock new frontiers in defense, surveillance, and beyond, cementing India’s position as a global leader in drone technology,” said Rajat Goyal, Founding Partner of Capital IQ.
