Garuda Aerospace secures Rs 100 crore funding, boosts drone manufacturing

Garuda Aerospace, a Chennai-based drone startup backed by former Indian cricketer MS Dhoni, has raised ₹100 crore (approximately $11.6 million) in its Series B funding round led by Venture Catalysts, valuing the company at $250 million. The funds will be utilized to enhance manufacturing capabilities, scale up production, and expedite the establishment of a dedicated R&D and testing center for advanced defense drones. Founded in 2015, Garuda currently holds over 20 patents and operates a fleet of more than 400 drones across various sectors, including agriculture and logistics. The company aims to contribute to India's self-reliance in defense technology and has reported significant revenue growth, with plans to expand its intellectual property portfolio. CEO Agnishwar Jayaprakash emphasized that this funding marks a critical milestone in Garuda's journey towards becoming a leader in drone innovation. The investment aligns with India's broader goals of achieving technological advancement and economic progress in the aerospace sector.