Garuda Aerospace kicks off global expansion, starting with Sri Lanka
Following a revenue clocking Rs 100 crore for FY2024, Garuda Aerospace is now focusing on expanding into a minimum of 50 countries over the next few years.
Drone technology company has forayed into the Sri Lankan market to expand its global operations.
The Chennai-based company will primarily target the agricultural sector in Sri Lanka, while also exploring opportunities in homeland security and industrial applications, it said in a statement.
The expansion to Sri Lanka will also support the firm in capitalising on the country's “strategic location” and “drone-friendly regulatory environment”, it added.
Following a revenue clocking Rs 100 crore for FY2024, Garuda Aerospace is now focusing on expanding into a minimum of 50 countries over the next few years. Approximately $10 million has been allocated for international growth.
"Our expansion into Sri Lanka marks a meaningful chapter in our journey. This isn't merely about growth—it's about unlocking the full potential of drone technology to create substantial impacts across various sectors. Sri Lanka’s diverse landscape allows us to showcase how our innovative solutions can bring tangible benefits, from agriculture to infrastructure,” said Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace.
In January, the firm partnered with Spirit Aeronautical Systems S.A., a Greek manufacturer known for its rotary and fixed-wing weaponised drones.
Additionally, MS Dhoni-backed Garuda Aerospace signed a Memorandum of Understanding (MOU) with French aerospace major Thales to enhance unmanned traffic management (UTM) and UAV detection solutions for secure drone operations.
The company has also obtained dual Directorate General of Civil Aviation (DGCA) approvals for both the manufacturing of small and medium-category drones and pilot training.
Recently, the IPO-bound firm launched India’s first drone-exclusive showroom in Chennai, Tamil Nadu.
To drive the adoption of agricultural drones, Garuda Aerospace has provided 445 Kisan drones to various fertiliser companies and public sector undertakings under the 'NaMo Drone Didi' initiative, the company said.
Founded in 2015 with a team of five, Garuda Aerospace has expanded to a workforce of over 200 members, comprising more than 400 drones and 500 pilots across 84 cities.
The company produces 30 different types of drones and provides 50 distinct services. Some of its clientele include Tata, , , , , Adani, and Reliance.
Edited by Affirunisa Kankudti