For the best experience, open
https://m.startupreporter.in
on your mobile browser.
Advertisement

Drone Startup Garuda Aerospace raises 5 million

03:39 PM Nov 10, 2022 IST | Charu Singh
drone startup garuda aerospace raises 5 million
Advertisement

 

Advertisement

India’s leading drone startup, Garuda Aerospace, the market leader in the Agri drone and industry 4.0 services segment secures $5 million in funding from a large infra development company, a group of HNI and Angel investors from India, UAE and Singapore. With the acquired funds, Garuda Aerospace will focus on building advanced drone solutions for the armed forces in collaboration with global giants from the defence and aerospace sectors.

Union Minister of Civil Aviation of India, Shri Jyotiraditya Scindia, has recently tweeted and encouraged Garuda Aerospace for their developments and the importance of drones used in the agricultural sector. Garuda Aerospace has demonstrated the use of drones to farmers for surveillance of crops, mapping of land, crop health, and crop yield mitigation and continues to create awareness of the importance of drone usage across India.

Advertisement

Speaking on the funding round, Agnishwar Jayaprakash, Founder and CEO, Garuda Aerospace said, “Since the Prime Minister flagged off the Kisan drones yatra, Garuda Aerospace has been consistent in bagging orders and growing the team, adding to our overall growth and revenue. We are motivated by the acknowledgment received by Shri Jyotiraditya Scindia’s tweet for creating an impact in the agri-drone sector. Garuda Aerospace is an asset-light, recession-proof, and market-agnostic company that is backed by its consumers. At a time when other Unicorn startups are downsizing, Garuda is hiring because growth is based on profitability, sustainability, and revenues. We have a stellar order book in contracts with 3 years of exclusivity, thus being cash-positive. We have a 24% net profit margin. Our ESG footprint has grabbed the attention of several large-impact investment firms. Given all of this, Garuda Aerospace is currently the most valuable Indian drone company at $250 million.”

Garuda Aerospace has inked long-term partnerships with Lockheed Martin, Elbit Systems, the Indian Institute of Science, IIT-M, and MIT Boston. Garuda Aerospace currently boasts of a drone fleet of 400 drones and a well-trained team of more than 500 pilots across 26 different cities, which continues to grow. Former Indian cricket team captain Mahendra Singh Dhoni has invested and is also the Brand Ambassador of the company. MS Dhoni has recently launched a drone named Droni.

About Garuda Aerospace

India’s Most Dependable Drone Start-up Garuda Aerospace is a human-centric brand that is focused on developing low-cost drone solutions to optimize industries through accurate data. Starting in 2015, The company has already made a significant mark on the drone industry with the Drone-As-A-Software aggregator. This aggregator designs impeccable drones for various human and industrial needs, offering various drone solutions to the industry. Garuda Aerospace has received national and international recognition for its success in the drone sector.

 

Tags :
×