Chennai based drone services startup Garuda Aerospace raises $5M to build for armed forces. The startup has secured $5M in funding from a large infra-development company. Angel investors from India, UAE and Singapore also participated in this funding round.
The $5M fund will be utilized to build advanced drone facilities for the Indian Armed forces. The facilities will be built in collaboration with many global giants from relevant sectors.
Agnishwar Jayaparakash, Founder and CEO, of Garuda Aerospace, said, “Garuda Aerospace is an asset-light, recession proof and market-agnostic company that is backed by its customers. At the time when other unicorn startups are downsizing, Garuda is hiring because growth is based on profitability, sustainability and revenues.”
Garuda Aerospace was founded by Agnishwar Jayaprakash in 2015. It is a drone service startup that designs, builds and customizes drones for various options.
The company focuses on the design, build and customization of unmanned aerial vehicles or drones for various applications.
Garuda Aerospace’s Brand Ambassador
A very well-known public figure and former Indian Cricket team Captain, Mahendra Singh Dhoni has also invested an undisclosed amount in this startup. In addition to this, MS Dhoni is the brand ambassador of the company. MS Dhoni launched a drone recently named DRONI manufactured by Garuda Aerospace.
“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.” said Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace.
Strengths and Inventory
The startup has cemented its long-term partnership with Lockheed Martin, Elbit Systems, IIT-M, and MIT BOSTON. At present, It holds a fleet of 400 drones and around 500 trained pilots across 26 different Cities.
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