Garuda Aerospace, Drone-as-a-Service (DaaS) provider company has raised an undisclosed amount in its Pre-series A funding round from Ocgrow Ventures with participation from a few prominent angels from the global investment banking circles.
The company will use the funds to enhance its technology and global expansion.
The Chennai-based Garuda Aerospace was founded in 2015 by Agnishwar Jayaprakash, It is rapidly growing as a major player in the DaaS space to increase efficiencies and reduce the cost of production in organizations across India.
The company is presently engaged in long-term contracts with Survey of India, NHAI, NTPC, IOCL, Godrej, ICAR etc.
According to the company, it has also created big technical grooves in AI and ML with a SaaS-based model.
“After Prime Minister Narendra Modi launched our Make in India Drone Manufacturing Facilities in February, our team has been flooded with orders and we forecast to manufacture at least 50,000 drones in the next year”, said, Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace.
“We have also received signed confirmation orders now of over 8,000 drones from countries like Malaysia, Panama, and UAE, and bringing onboard investors with a global growth agenda at this juncture is the most strategic decision for Garuda’s aggressive plan of dominating the Indian drone market”, he added.
In the past few days, Garuda Aerospace partnered with Swiggy for drone delivery trials in Bengaluru and Delhi-NCR.
The company supplies more than 30 different types of drones to over 750 customers in various industry sectors and services.
The drone maker has received orders for over 8000 drones from countries like Malaysia, Panama, and UAE.
“Garuda has quickly established itself as the innovative market leader dominating the Indian drone ecosystem. With a potential demand of incoming orders exceeding over USD 50 million in near future, we firmly believe Garuda will undoubtedly create immense value which will be difficult to ignore from an impact investment and additional global VC funds going forward”, said, Harish Consul, Founder, and CEO of Ocgrow Ventures.
About Garuda Aerospace
Garuda Aerospace focuses on the design, build, and customization of unmanned aerial vehicles (UAVs) or drones for various applications. Catering to diverse needs such as event photography, agricultural survey, reconnaissance, and surveillance, Garuda Aerospace meets the customer’s requirements with precision.
The Garuda team consists of enthusiastic and dynamic engineers, who have a comprehensive approach to design and development, thereby, making them well-knit. The team’s engineers experiment with new design methodologies that can be incorporated in future projects.
Garuda Aerospace is an international standard certified company in ISO9001:2015 and AS9100 for Aerospace Quality Management Systems. Currently, the company has begun the process for a Wireless Planning & Coordination (WPC) license. Garuda Aerospace envisions itself to be the finest commercial UAV design, development, service and support organization in India.