MS Dhoni-backed drone start-up Garuda Aerospace raises ₹100 crore in Series B Funding

The funding will be used to strengthen the company’s capacity to scale manufacturing and innovation. Garuda Aerospace, the Chennai-based drone start-up, has raised ₹100 crore in a Series B funding round from Venture Catalysts (VCAT), at a valuation of $250 million. Cricketer Mahendra Singh Dhoni had earlier invested in the company and is also the brand ambassador. 

The fresh funds will enhance the company’s capabilities in producing drone systems. The funds will also be allocated to scale up its current production facility and fast-track the completion of an R&D and testing centre for advanced defence drone design.

This development not only strengthens Garuda Aerospace’s position in the Indian aerospace ecosystem, but also aligns it with the nation’s broader vision of achieving self-reliance in high-tech defence manufacture, the release said. Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace, said the funding not only strengthens its capacity to scale manufacturing and innovation, but also positions the company to accelerate the development of next-generation drone technology.

Dr. Apoorva Ranjan Sharma, Co-founder and Managing Director of VCAT, said Garuda’s role in strengthening India’s indigenous defence manufacturing ecosystem, while also creating a global footprint, was exciting.

The seven-year-old company has over 400 drones and 500 pilots operating in 84 cities. It manufactures 30 types of drones and offers 50 types of services. Having served over 750 clients, including TATA, Godrej, Adani, Reliance, Swiggy, Flipkart, Delhivery, L&T, Survey of India, SAIL, NTPC, IOCL, Smart cities, Intel, Amazon, Wipro, IISC, MIT Boston, and NHAI on projects, the company recently partnered with global giants such as Lockheed Martin, Cognizant and Elbit Systems.