Drone startup Garuda Aerospace raises ₹25 crore in latest funding round

“The company will allocate the funds towards working capital requirements, ensuring seamless execution of the IFFCO drone order and fulfilling the pre-booked orders from numerous dealers across the country,” it added.

The startup recently received a drone order of 400 units and a pre-booking of a total of 10,000 drones from 700 dealers across the country, in partnership with IFFCO (Indian Farmers Fertiliser Cooperative Limited).

Speaking about the funding round, Garuda Aerospace founder and CEO Agnishwar Jayaprakash said, “This fresh capital infusion will play a crucial role in accelerating our growth and enhancing our capabilities to meet the escalating market demand. With the continued backing of esteemed investors and the endorsement of MS Dhoni, we are confident in our mission to revolutionise the drone technology sector in India.”

Jayaprakash, an alumnus of Harvard Business School and a former Asian gold medalist, founded Garuda Aerospace in 2015. The company designs and manufactures precision agriculture drones. It has reportedly secured a 55% market share in the Precision Agri Drone industry.