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.
- John Furner appointed as Chief Executive Officer of WalmartWalmart has appointed John Furner as Chief Executive Officer. This… Read more: John Furner appointed as Chief Executive Officer of Walmart
- Lovejeet Alexander appointed as Director, New Economy at BloombergBloomberg has appointed Lovejeet Alexander as Director, New Economy. This… Read more: Lovejeet Alexander appointed as Director, New Economy at Bloomberg
- Paul Broughton appointed as Managing Director Asia Pacific at UKGUKG has appointed Paul Broughton as Managing Director, Asia Pacific.… Read more: Paul Broughton appointed as Managing Director Asia Pacific at UKG
