Drone manufacturer Garuda Aerospace has raised Rs 100 crore in a Series B funding round led by Venture Catalysts (Vcats++), valuing the company at $250 million. The funding will be used to expand production facilities, strengthen research and development efforts in defence drone technology, and establish a new design centre.
The Chennai-based firm, which operates in both civilian and defence drone segments, plans to fast-track the completion of a dedicated R&D and testing centre focused on advanced unmanned aerial systems. The company currently holds over 20 patents. A portion of the funds will also go toward expanding its intellectual property portfolio and scaling up its drone manufacturing operations.
“This Series B funding is a defining milestone in Garuda Aerospace’s growth journey. It not only strengthens our capacity to scale manufacturing and innovation but also positions us to accelerate the development of next-generation drones technology. As we prepare for a global growth expansion journey, this investment reinforces our commitment to building world-class, indigenous drone technologies that contribute to India’s economic progress, self-reliance in defence, and technological leadership on the global stage,” Agnishwar Jayaprakash, Founder and CEO, Garuda Aerospace, said.
Former Indian cricket captain MS Dhoni, who is associated with the company as a brand ambassador and investor, continues to be linked with the startup’s broader outreach efforts. Garuda Aerospace works across multiple sectors, including agriculture, infrastructure, logistics, and public sector enterprises. It has also partnered with companies such as Tata, HUL, and Reliance for drone deployment and component indigenisation.
“We are immensely proud to lead this landmark Series B funding for Garuda Aerospace. This investment is closely aligned with our strategy of supporting homegrown champions that have the potential to transform India’s technological landscape and create a significant socio-economic impact. The role Garuda is playing in strengthening India’s indigenous defence manufacturing ecosystem, while also creating a global footprint, is something that truly excites us. We firmly believe that in the years to come, Garuda Aerospace will emerge as a global leader in drone technology, making India the drone hub of the world by 2030,” Apoorva Ranjan Sharma, Co-founder and Managing Director, Venture Catalysts, added.
The funding comes at a time when India’s drone industry is seeing increased activity, supported by policy measures like the Drone Rules 2021 and the Production-Linked Incentive (PLI) scheme aimed at encouraging domestic manufacturing. India’s drone market has witnessed growing demand from both the government and private sectors, particularly in areas such as precision agriculture, surveillance, mapping, and delivery services.