When Garuda Aerospace was launched in 2015 with a team of five members, little could have predicted the scale it would make in less than a decade. From now on, the most precious drone startup in India has obtained 100 lasting spores of ₹ in the financing of the B series of venture capital catalysts (VCAT), fixing its valuation at 250 million dollars. It is not only a financial step – it is a strategic jump that will feed Garuda’s ambition to become a world leader in the manufacture of Aboriginal drones and defense innovation.
Garuda Aerospace, known for its vast drone fleet and technological foresight, is preparing to raise its production and research infrastructure. With more than 20 patents to its credit, the startup allocates part of its new funds to extend its intellectual property and set up a new design installation focused on advanced drone systems.
This decision reflects its broader role in supporting India’s defense ambitions and at the Atmanirbhar Bharat initiative. In addition to agricultural applications, Garuda builds systems with more than 85% indigenous content despite supply challenges, more integration into national priorities.
The increase in series B, to a pre-money assessment of 250 million dollars, follows its enhancement of previous $ 100 million during series A in 2022-2023. The MS Dhoni cricket, which joined the brand’s investor and ambassador in September 2024, saw the round end with substantial momentum.
Central of Garuda’s growth strategy is the new 35,000 square feet Garuda drones park, developed with Tata Elxsi and other partners, which will act as a cutting edge R&D and a test center. This completes its manufacturing base in Chennai, forming the backbone of its material innovation ecosystem.
Garuda is also associated with the defense of the pillars of the manufacture of HAL and BEML and operates on a lean and active -light model, resulting in impressive finances – 30 to 32% gross margins, 24% EBITDA and 15% PAT. Income increased from 2 sterling books in FY20-21 to a crore of 122 ₹ projected during the financial year 24-25, with a growth forecast of 2 to 3x for 25-26.
“This financing of the B series is a decisive step in the growth course of Garuda Aerospace,” said Agnishwar Jayaprakash, founder and CEO. “This reinforces not only our ability to evolve manufacturing and innovation, but also positions us to accelerate the development of new generation drone technology.”
Catital-risk catalysts sees a similar promise. “The role that Garuda plays in strengthening the manufacturing ecosystem of Indigenous Defense of India, while creating a global footprint, is something that really excites us,” said Apoorva Ranjan Sharma, co-founder and MD of VCAT.
Garuda’s success is on the booming drone market of India, motivated by applications in the sectors and solid government support thanks to policies such as Drone Rules 2021 and the PLI program. The startup continues to diversify its customers – from Swiggy and Flipkart to NTPC and Lockheed Martin – while offering DAAS solutions and pilot training in 84 cities with a fleet of more than 400 drones.
