When Garuda Aerospace launched in 2015 with a five-member crew, few might have predicted the dimensions it might obtain in lower than a decade. Now, India’s most beneficial drone startup has secured ₹100 crore in Collection B funding from Enterprise Catalysts (VCAT), pegging its valuation at $250 million. This isn’t only a monetary milestone — it’s a strategic leap that may energy Garuda’s ambition to turn out to be a worldwide chief in indigenous drone manufacturing and protection innovation.
Garuda Aerospace, identified for its expansive drone fleet and technological foresight, is making ready to raise its manufacturing and analysis infrastructure. With greater than 20 patents below its belt, the startup is allocating a portion of its new funds towards increasing its mental property and organising a brand new design facility centered on superior drone methods.
The transfer displays its broader position in supporting India’s protection ambitions and the Atmanirbhar Bharat initiative. Alongside agricultural purposes, Garuda is constructing methods with over 85% indigenous content material regardless of going through provide challenges, additional embedding itself into nationwide priorities.
The Collection B elevate, at a $250 million pre-money valuation follows its earlier $100 million valuation throughout the Collection A spherical in 2022-23. Cricketer MS Dhoni, who joined as an investor and model ambassador in September 2024, has seen the spherical shut with substantial momentum.
Central to Garuda’s progress technique is the brand new 35,000 sq ft Garuda Drone Park, developed with Tata Elxsi and different companions, which can act as a cutting-edge R&D and testing hub. This enhances its manufacturing base in Chennai, forming the spine of its {hardware} innovation ecosystem.
Garuda additionally companions with protection manufacturing stalwarts HAL and BEML and operates on a lean, asset-light mannequin, leading to spectacular financials — 30-32% gross margins, 24% EBITDA, and 15% PAT. Revenues have soared from ₹2 crore in FY20-21 to a projected ₹122 crore in FY24-25, with a 2-3x progress forecast for FY25-26.
“This Collection B funding is a defining milestone in Garuda Aerospace’s progress journey,” mentioned Agnishwar Jayaprakash, Founder and CEO. “It not solely strengthens our capability to scale manufacturing and innovation but additionally positions us to speed up the event of next-generation drones know-how.”
Enterprise Catalysts sees related promise. “The position Garuda is taking part in in strengthening India’s indigenous protection manufacturing ecosystem, whereas additionally creating a worldwide footprint, is one thing that actually excites us,” mentioned Apoorva Ranjan Sharma, Co-founder and MD of VCAT.
Garuda’s success story rides on India’s booming drone market, pushed by purposes throughout sectors and powerful authorities assist via insurance policies like Drone Guidelines 2021 and the PLI scheme. The startup continues to diversify its shopper base — from Swiggy and Flipkart to NTPC and Lockheed Martin — whereas providing DaaS options and pilot coaching throughout 84 cities with a fleet of over 400 drones.
