Garuda Aerospace Boosted by Rs 100 Crore Series B Funding

Garuda Aerospace has secured Rs 100 crore in Series B funding, led by Venture Catalysts, to boost its drone manufacturing capabilities. The funding will help enhance their drone systems, expand R&D efforts, and align with India's defense manufacturing goals. The company holds over 20 patents and caters to diverse client needs.

Garuda Aerospace, backed by cricket legend Mahindra Singh Dhoni, has successfully raised Rs 100 crore in its Series B funding round from Venture Catalysts. The funding, at a valuation of USD 250 million, marks a significant leap in scaling the company's drone manufacturing capabilities.

The newly acquired funds will aid Garuda Aerospace in expanding its production facilities and fast-tracking research and development for advanced defense drones. Founder and CEO Agnkshwar Jayaprakash stated that this financial boost provides momentum for next-generation drone technology development.

This investment aligns with India's strategic aim of achieving self-reliance in high-tech defense manufacturing, as highlighted by Garuda Aerospace. With a broad portfolio of over 20 patents and a diverse clientele ranging from government to agriculture and defense, the company is well-positioned to make transformative impacts in the technological and socio-economic spheres.

(With inputs from agencies.)