MS Dhoni-backed drone startup Garuda Aerospace announced on Wednesday that it has secured ₹100 crore in a Series B funding round led by Venture Catalysts, pushing its valuation to $250 million. The fresh investment is set to accelerate the company’s momentum in indigenous drone manufacturing and technological innovation.
The newly raised funds will be used to scale up production, enhance drone system capabilities, and fast-track the development of an advanced R&D and testing center for next-generation defense drones. The Chennai-based company, which holds over 20 patents, also plans to expand its intellectual property portfolio and establish a new design facility.
Founder and CEO Agnishwar Jayaprakash emphasized that the funding not only boosts manufacturing and innovation efforts but also supports Garuda’s global expansion goals and the development of cutting-edge drone technology.
Founded in 2015, the drone startup specializes in precision agritech and Industry 4.0 applications, designing customized unmanned aerial vehicles (UAVs) aimed at reducing manual labor in agriculture.
“This series B funding not only strengthens our capacity to scale manufacturing and innovation but also positions us to accelerate the development of next-generation drone technology,” said Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace. Jayaprakash, Founder and CEO of Garuda Aerospace.
With a fleet of 400+ drones and 500 trained pilots across 84 cities, the startup manufactures 30 drone models, provides 50 services, and has served over 750 clients. According to NITI Aayog, India’s UAV market is expected to hit $15 billion by 2030, positioning Garuda Aerospace well for future growth.
This development not only strengthens Garuda Aerospace’s position in the Indian aerospace ecosystem but also aligns with the nation’s broader vision of achieving self-reliance in high-tech defense manufacturing, Garuda Aerospace said.
