Garuda Aerospace, a MS Dhoni-backed drone startup, has raised ₹100 crore in its Series B funding round led by Venture Catalysts (Vcats++), at a valuation of $250 million.
The fresh funds raised will be used to enhance its capabilities in producing drone systems. The funds will also be used to scale up its production facility and complete an R&D and testing center focused on defense drone technology.
The funds will also support the expansion of its intellectual property portfolio and utilise the funds towards producing a new design facility as well.
Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace, said, “This Series B funding is a defining milestone in Garuda Aerospace’s growth journey. It not only strengthens our capacity to scale manufacturing and innovation but also positions us to accelerate the development of next-generation drones technology. As we prepare for global growth expansion journey, this investment reinforces our commitment to building world-class, indigenous drone technologies that contribute to India’s economic progress, self-reliance in defense, and technological leadership on the global stage.”
Dr. Apoorva Ranjan Sharma, Co-founder and Managing Director of Venture Catalysts, said, “We are immensely proud to lead this landmark Series B funding for Garuda Aerospace. This investment is closely aligned with our strategy of supporting homegrown champions that have the potential to transform India’s technological landscape and create significant socio-economic impact. The role Garuda is playing in strengthening India’s indigenous defense manufacturing ecosystem, while also creating a global footprint, is something that truly excites us. We firmly believe that in the years to come, Garuda Aerospace will emerge as a global leader in drone technology, making India the drone hub of the world by 2030.”
Founded in 2015 by Agnishwar Jayaprakash, Garuda Aerospace has established a robust business model encompassing drone manufacturing, drone-as-a-service (DaaS) offerings, and pilot training.
The company caters to a wide array of clients, including government agencies, agricultural enterprises, infrastructure companies, and defense establishments, providing tailored drone solutions for diverse needs. Garuda Aerospace continues working with local partners like Tata, HUL, Reliance etc for indigenization of drones.
Garuda Aerospace holds a portfolio of over 20+ patents.
