Garuda Aerospace, the Chennai-based drone technology startup co-founded by Agnishwar Jayaprakash and endorsed by Indian cricket icon MS Dhoni, has raised ₹100 crore (approximately $11.6 million) in a Series B funding round led by Venture Catalysts. The round pegs Garuda’s post-money valuation at $250 million, marking a significant milestone for India’s burgeoning drone ecosystem.
Accelerating India’s Drone Ambitions
Founded in 2015, Garuda Aerospace has become one of the country’s most recognizable drone brands. With a fleet of over 400 drones and more than 500 trained pilots across 84 Indian cities, the startup offers a diverse range of services—from precision agriculture and mapping to industrial inspections and defense-oriented applications.
The newly raised funds will be used to:
- Expand drone manufacturing capacity
- Upgrade its Chennai-based production facility
- Complete a cutting-edge R&D and testing center for advanced defense drone design
- Boost IP creation, adding to the startup’s portfolio of 20+ filed patents
“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,” said Agnishwar Jayaprakash, Founder and CEO, Garuda Aerospace.
A Growing Client and Partnership Ecosystem
Garuda’s client roster includes major Indian enterprises such as TATA, Adani, Reliance, NTPC, Swiggy, Flipkart, and the Survey of India. The startup also maintains global partnerships with defense and tech leaders including Lockheed Martin, Cognizant, and Elbit Systems.
Garuda provides over 50 types of drone services, and manufactures more than 30 varieties of drones, making it one of the most diversified drone manufacturers in India.
Strong Financial Growth
The company recorded impressive financials in FY24:
- Revenue: ₹110.8 crore (up from ₹47 crore in FY23)
- Net Profit: ₹15.8 crore (up from ₹6 crore in FY23)
These metrics underline both the scalability and profitability of its business model, making Garuda one of the few deeptech startups with strong unit economics and nationwide deployment.
Investor Confidence in India’s Deeptech Future
“This investment aligns with our strategy of supporting homegrown champions that have the potential to transform India’s technological landscape and create lasting socio-economic impact,” said Apoorva Ranjan Sharma, Co-founder and MD, Venture Catalysts.
This funding will also enable Garuda to play a key role in supporting India's self-reliance goals under the Drone Rules 2021 and the PLI scheme, which incentivize domestic manufacturing of drone components and platforms.
Building Bharat’s Defense Future
With a defense-focused R&D hub now nearing completion, Garuda Aerospace is positioning itself at the intersection of aerospace, agritech, and national security. The startup’s indigenous approach, scalable technology, and deep integration with public and private sector clients make it a core player in India's ambition to become a global drone superpower.
From field inspections in agriculture to battlefield surveillance, Garuda is no longer just a drone company—it’s a platform for self-reliant innovation.