Chennai-based drone startup Garuda Aerospace, backed by former Indian cricket captain MS Dhoni, has raised ₹100 crore in its Series B funding round led by Venture Catalysts, valuing the company at ₹2,125 crore ($250 million).
The funds will be used to ramp up drone manufacturing, expand production facilities, and accelerate the development of an advanced R&D and testing centre with a focus on defence technologies.
Founder and CEO Agnishwar Jayaprakash said the investment marks a significant milestone in Garuda’s journey to becoming a global drone leader. “This capital will fuel our growth, enhance innovation, and support our mission to make India a global hub for drone technology,” he added.
Earlier, the company announced a ₹100 crore investment to set up a ‘Drone City’ in Andhra Pradesh, aimed at boosting India’s presence in the global drone ecosystem.
- Gaurav Mehta appointed as Executive Director – Marketing and Strategic Capabilities at Eli Lilly and CompanyEli Lilly and Company has announced the appointment of Gaurav… Read more: Gaurav Mehta appointed as Executive Director – Marketing and Strategic Capabilities at Eli Lilly and Company
- Mansi Nigam appointed as Chief People and Culture Officer, India at Allianz TechnologyAllianz Technology has announced the appointment of Mansi Nigam as… Read more: Mansi Nigam appointed as Chief People and Culture Officer, India at Allianz Technology
- Meenakshi Sasmal appointed as Vice President and Branch Sales Manager at HSBCHSBC has announced the appointment of Meenakshi Sasmal as Vice… Read more: Meenakshi Sasmal appointed as Vice President and Branch Sales Manager at HSBC
