Drone manufacturer Garuda Aerospace has secured USD 12 million (INR 100 crore) in a series B funding round from Venture Catalysts. The company stated that the investment will be directed toward expanding its manufacturing operations and accelerating the development of a new research and testing facility for defence-focused drone technology.
The funding round values Garuda Aerospace at USD 250 million. In addition to enhancing production capacity, the company plans to allocate part of the capital towards building a new design centre and expanding its intellectual property portfolio, which includes more than 20 patents.
Founder and CEO Agnishwar Jayaprakash said, “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.”
Venture Catalysts' Co-founder Apoorva Ranjan Sharma commented, “This investment is closely aligned with our strategy of supporting homegrown champions that have the potential to transform India’s technological landscape and create significant socio-economic impact.”
Garuda Aerospace operates across multiple verticals including drone manufacturing, drone-as-a-service (DaaS), and pilot training. The company supplies drones and services to a range of clients including government departments, agricultural enterprises, infrastructure developers, and defence users.
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