Garuda Aerospace, a drone manufacturing company, has secured investment from Narotam Sekhsaria Family Office (NSFO) ahead of its planned Initial Public Offering (IPO).
The round also saw participation from existing investors, including WFC (We Founder Circle).
This latest funding follows Garuda Aerospace’s successful ₹100 crore Series B round led by Venture Catalysts (VCats).
The strategic funds will be used to scale its manufacturing capacity from the current 8,000 drones per year to 12,000–15,000 annually, with a long-term goal of producing 50,000 drones in the coming years. The investment will also accelerate research and development efforts aimed at achieving full indigenization of both airborne and ground defence drone systems within the next 3–5 years. Additionally, Garuda Aerospace aims to expand its export footprint to 50 countries by 2025.
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.
Originally known for its agricultural drones, Garuda has transformed into a multi-sector drone manufacturer, producing advanced systems for surveillance, monitoring, and logistics payload delivery within the defence sector.
The company claims to have sold over 4,000 drones and served more than 400 clients, supported by strategic partnerships with global giants such as Thales, Elbit Systems, Lockheed Martin, and Cognizant.
Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace, said, ”We are delighted to welcome the Narotam Sekhsaria Family Office as a strategic investor. Their belief in our journey reinforces our mission to build a global drone-tech champion from India. This investment powers our next phase of growth, focused on innovation, national service, and global scale.”
