The founder and CEO of Garuda Aerospace, Agnkshwar Jayaprakash, stated, “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.”
According to Garuda Aerospace, this breakthrough not only solidifies the company’s place in the Indian aerospace ecosystem but also supports the country’s overarching goal of being self-sufficient in high-tech defense manufacture.
It also stated that a certain amount of the recently raised money will go into building a new design center and diversifying its portfolio of intellectual property.
At the moment, Garuda Aerospace has a strong portfolio of more than 20 patents.
Apoorva Ranjan Sharma, co-founder and managing director of Venture Catalysts, stated, “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.”
According to Garuda Aerospace, the industry offers a significant opportunity because of the government’s strong emphasis on encouraging drone use and domestic manufacture through programs like the Production-Linked Incentive (PLI) scheme and the Drone Rules 2021.
The company serves a broad range of customers, including government organizations, agricultural businesses, infrastructure firms, and defense establishments, by manufacturing drones, offering drone-as-a-service (DaaS), and offering pilot training as a business model. It offers customized drone solutions for a variety of needs.
