Defence tech startup Raphe mPhibr has secured $100 million in funding led by General Catalyst, marking the largest private capital raise in India’s aerospace manufacturing sector.
Think Investments, Amal Parikh and family offices also participated, taking the Noida-based company’s total funding to $145 million and valuing it at $836 million post-money, according to Tracxn data.
The company, founded in 2017, reported revenue of Rs 86.1 crore ($10.4 million) in FY24, demonstrating strong growth with a 5-year revenue CAGR of 366%, turning profitable in FY22. In FY24, it posted a net profit of Rs 9 crore.
Founded by siblings Vivek Mishra (CEO) and Vikash Mishra (chairman), the startup manufactures unmanned aerial vehicles including drone swarms, high-altitude logistics drones and maritime patrol systems. The company operates a vertically integrated aerospace campus with in-house capabilities across aerodynamics, materials science and thermodynamics. It has already deployed several products with the Indian defence forces.
As of May 2025, the founders retained 51.8% ownership. Angel investors held 36.2% while Think Investments owned 7%, as per Tracxn data.
The latest funding comes amid increased drone usage in global military operations and aligns with India’s push to expand its private aerospace ecosystem through initiatives like the government’s Innovations for Defence Excellence (iDEX) programme.