India’s leading drone-tech startup Garuda Aerospace, backed by cricket legend Mahendra Singh Dhoni, has announced a successful ₹100 crore ($12M approx.) Series B funding round led by Venture Catalysts. The latest capital infusion values the startup at $250 million, strengthening its position as a frontrunner in India’s rapidly evolving drone ecosystem.
The funds will be strategically utilized to scale manufacturing operations, enhance R&D capabilities, and accelerate the development of advanced defense drone technologies. A significant portion is earmarked for expanding the company’s production facility, fast-tracking the new R&D and testing center, and broadening its intellectual property portfolio, which already includes over 20 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 of Garuda Aerospace.
A Boost for India’s Drone and Defense Sectors
Garuda Aerospace’s expansion aligns closely with the Indian government’s “Aatmanirbhar Bharat” initiative, which emphasizes self-reliance in high-tech defense and aerospace manufacturing. With increasing regulatory support via the Drone Rules 2021 and Production-Linked Incentive (PLI) schemes, the company is poised to tap into the booming domestic and global drone markets.
The startup’s robust Drone-as-a-Service (DaaS) model caters to clients across sectors—ranging from agriculture and infrastructure to disaster management and defense. In addition to offering drone-based solutions, Garuda Aerospace is also involved in pilot training programs to build a skilled workforce for the future.
“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,” said Apoorva Ranjan Sharma, Co-founder and MD, Venture Catalysts.
Looking Ahead: Defense Innovation and Global Expansion
With the new funding, Garuda Aerospace is set to push boundaries in defense drone innovation, while also targeting global markets for expansion. The new design facility in the pipeline will help fast-track drone prototypes for strategic and tactical applications, addressing both civil and military demands.
Garuda’s vision of becoming a drone-tech unicorn is bolstered by its scalable business model, strong investor backing, and national alignment with India’s defense and aerospace goals.