MS Dhoni-backed Garuda Aerospace boosts Series B round with $1M infusion
This million-dollar infusion follows a Series B funding of approximately $12 million (Rs 100 crore) led by Venture Catalysts, which the Chennai-based firm raised a few months ago at a valuation of $250 million.
MS Dhoni-backed drone startup has secured an additional $1 million in its ongoing Series B round, with new investment from Narotam Sekhsaria Family Office and existing backer We Founder Circle.
This million-dollar infusion follows a Series B funding of approximately $12 million (Rs 100 crore) led by Venture Catalysts, which the Chennai-based firm raised a few months ago at a valuation of $250 million.
The funding will support the startup’s expansion plans, including increasing manufacturing capacity from 8,000 to 12,000–15,000 drones annually, with a long-term target of 50,000 units.
The investment will also boost R&D focused on fully indigenising airborne and ground defence drone systems over the next 3–5 years.
Commenting on the new investment and the addition of Narotam Sekhsaria Family Office as a strategic investor, Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace, said, “This investment powers our next phase of growth, focused on innovation, national service, and global scale.”
Founded in 2015, Garuda Aerospace focuses on areas such as precision agritech and Industry 4.0 applications. It develops and customises unmanned aerial vehicles, focusing on reducing manual labour in agricultural processes.
A report by NITI Aayog notes that the unmanned aerial vehicle market in India is projected to reach $15 billion by 2030.
The Chennai-based startup operates a fleet of over 400 drones with 500 pilots across 84 cities, manufactures 30 types of drones, offers 50 different services, and claims to have served more than 750 clients.
IPO-bound Garuda Aerospace operates a business model that includes drone manufacturing, drone-as-a-service offerings, and pilot training. It serves a range of clients, such as government agencies, agricultural businesses, infrastructure firms, and defence organisations, providing customised drone solutions.
For the fiscal year ending March 2025, the company clocked revenue of Rs 123 crore, compared to Rs 109 crore in the year prior, according to the Garuda chief.
The drone startup has raised a total funding of $51.9 million, according to Tracxn. Garuda Aerospace plans to increase its exports to 50 countries by 2025.