Garuda Aerospace Raises ₹100 Cr, Eyes Global Expansion

​Garuda Aerospace, a pioneering Indian drone technology startup, has recently secured ₹100 crore in a Series B funding round led by Venture Catalysts. This significant investment underscores the company's commitment to expanding its global footprint and enhancing its technological capabilities.​

A Decade of Innovation and Growth

Founded in 2015 by Agnishwar Jayaprakash and Rithika Mohann, Garuda Aerospace has established itself as a leader in the drone technology sector. Based in Chennai, the company offers a range of drone solutions across various industries, including defense, agriculture, security, surveillance, transportation, and logistics. Additionally, Garuda provides drones-as-a-service (DaaS) and has trained over 100,000 individuals as drone pilots, contributing significantly to skill development in the sector.​

Strategic Funding for Expansion

The recent ₹100 crore funding round, led by Venture Catalysts, comes at a post-money valuation of $250 million, consistent with the company's valuation in 2023. This flat round indicates investor confidence in Garuda's long-term vision and operational stability. A substantial portion of the funds will be allocated to scaling production capabilities and strengthening research and development efforts. Furthermore, $10 million from this round is earmarked for international expansion, with plans to enter 50 global markets in the coming years.

Building 'Drone City' in Andhra Pradesh

In alignment with its expansion strategy, Garuda Aerospace has committed ₹100 crore to develop a 'Drone City' in Orvakal village, Kurnool district, Andhra Pradesh. This initiative aims to create a hub for drone innovation, fostering research, attracting top talent, and propelling India to the forefront of drone technology. The project aligns with national initiatives like 'Viksit Bharat Sankalp Yatra' and 'Namo Drone Didi,' which empower rural women through drone technology. ​

Market Leadership and Strategic Partnerships

Garuda Aerospace has achieved significant milestones, including a strategic partnership with the Indian Farmers Fertiliser Cooperative Limited (IFFCO) for a drone order of 400 units. Additionally, the company has received pre-bookings for 10,000 drones from 700 dealers nationwide, reflecting a surge in demand for its innovative solutions.

Regulatory Approvals and Industry Recognition

The company has secured six approvals from the Directorate General of Civil Aviation (DGCA), including Type Certification and Remote Pilot Training Organisation (RPTO) approvals. These certifications enhance Garuda's credibility and position it as a leader in the Indian drone industry. ​

Vision for the Future

With the recent funding and strategic initiatives, Garuda Aerospace is poised to play a pivotal role in shaping the future of drone technology in India and globally. The company's focus on innovation, skill development, and international expansion aligns with broader goals of technological advancement and economic growth.

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