Chennai-headquartered Garuda Aerospace has secured ₹100 crore in its Series B funding round from Venture Catalysts at a valuation of $250 million. The investment marks a significant milestone for this drone startup company founded in 2015. Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace said the funds will support scaling of its production facility and accelerate completion of a dedicated R&D and testing centre for advanced defence drone design. Apoorva Ranjan Sharma, Co founder of Venture Catalysts said that this investment aligns with their strategy of supporting India’s homegrown champions who have the potential to transform India’s tech landscape and create significant social and economic impact.
Currently, Garuda Aerospace operates a 24000 sq. ft. facility and has begun construction to expand by an additional 35000 sq. ft. This expansion is expected to double the company’s annual production capacity from 8000-10000 units to approximately 20000 drones. The capital infusion will also fast track development of its new research centre, which aims to enhance defence drone capabilities through rigorous testing.
In addition to facility scaling, the company plans to bring component manufacturing in-house for its drones. At present, 40-45% of drone parts are sourced externally. By June-July, Garuda Aerospace aims to manufacture at least 85% of its components domestically. This move aligns with broader industry efforts to strengthen India’s supply chain and reduce reliance on imported parts.
Founded in 2015 with a team of five, the company now employs over 200 professionals. It operates the largest drone fleet in India, comprising more than 400 drones and 500 certified pilots across 84 cities. Garuda Aerospace provides 50 types of services and manufactures 30 drone models. The company holds DGCA Type Certification and Remote Pilot Training Organisation approvals. Its customers include Tata, Godrej, L&T, Intel, Amazon, Wipro, MIT Boston, Adani, Reliance, Swiggy, Flipkart and many other reputed companies. It also partners with global firms Cognizant, Lockheed Martin and Elbit Systems. The company is also backed by the Indian cricketer M.S. Dhoni.
