Chennai-based drone startup Garuda Aerospace, backed by former Indian cricket captain MS Dhoni, has successfully raised Rs 100 crore in its Series B funding round. This latest round was led by early-stage investor Venture Catalysts (VCAT), valuing the company at $250 million.
Focus on Scaling Manufacturing and R&D
Garuda Aerospace plans to use the fresh capital to expand its domestic manufacturing capabilities. The startup is building a new 35,000 sq ft production facility alongside its existing plant in Chennai. This facility will focus on subsystem and component-level production to reduce import dependency and increase indigenous content in its drones.
Additionally, the funds will accelerate the completion of a cutting-edge R&D and testing center dedicated to advanced defence drone design. The company aims to develop next-generation drone technologies and expand its intellectual property portfolio, which currently includes over 20 patents.
Strong Market Presence and Financial Growth
Founded in 2015, Garuda Aerospace operates a fleet of 400 drones across 84 cities and has served over 750 clients, including government agencies and major corporations. It offers drone-as-a-service (DaaS) solutions and remote pilot training, certified by India’s Directorate General of Civil Aviation (DGCA).
Financially, Garuda Aerospace reported revenue of Rs 110.8 crore and a net profit of Rs 15.8 crore in FY24, reflecting the rising demand for drones in agriculture, logistics, surveillance, and infrastructure sectors. The company expects to nearly double its drone sales in FY26, aiming for 8,000 units compared to 4,000 in recent years.
Leadership Vision and Industry Impact
Founder and CEO Agnishwar Jayaprakash described the Series B funding as a “defining milestone” that will strengthen manufacturing capacity and innovation. He emphasized the company’s commitment to building world-class, indigenous drone technologies that support India’s economic progress and self-reliance in defence.
Dr. Apoorva Ranjan Sharma, Co-founder and Managing Director of Venture Catalysts, expressed pride in backing Garuda Aerospace. He highlighted the startup’s potential to transform India’s technological landscape and position the country as a global drone hub by 2030.
Aligning with Atmanirbhar Bharat and Government Initiatives
This funding round aligns with India’s push for self-reliance under the Atmanirbhar Bharat initiative. The government’s production-linked incentives and policy reforms aim to boost indigenous drone manufacturing, creating a favourable environment for startups like Garuda Aerospace to thrive.
Garuda Aerospace’s growth story reflects the rising prominence of the Indian drone industry, combining innovation, domestic manufacturing, and strategic partnerships to carve a global niche. With MS Dhoni’s backing and strong investor confidence, the company is poised for significant expansion in defence and civilian drone markets.