Garuda Aerospace raises $1 million funding from Narotam Sekhsaria Family Office, others

Former Indian cricket team captain Mahendra Singh Dhoni-backed Drone startup Garuda Aerospace has raised $1 million in a funding round from the Narotam Sekhsaria Family Office (NSFO).

Existing investors, including WFC (We Founder Circle) also participated in this round.

The startup plans to use the funds to increase drone production from 8,000 to 12,000–15,000 units per year. They will also be used to boost R&D and grow exports to 50 countries by the end of the year.

Read also- FlexiLoans raises Rs 375 Cr in Series C funding round led by BII, others

Founder and CEO Agnishwar Jayaprakash said the company is currently earning revenue in India but plans to expand to the US, Africa, and other regions.

“We are also developing a lot of components that we are manufacturing in-house to reduce the reliance or dependencies on foreign imports. And more importantly, we've also focused a bit more on the software and the automation of the drones,” Jayaprakash said.

“Almost 70% of our revenue comes from agriculture, as it represents the highest utilisation of drone services in the country. While agriculture will remain a major source, this year we’ll also have defense orders and global industrial services contracts, which will contribute to our revenue,” he said.

About Garuda Aerospace 

Founded in 2015 by Agnishwar Jayaprakash, the Chennai-based Garuda Aerospace manufactures more than 30 types of drones and offers various services, including drone-as-a-service (DaaS) and pilot training.

The company runs a fleet of 400 drones with 500 pilots across 84 cities. It has served over 750 clients, including major companies like Tata, Adani, Reliance, Swiggy, flipkart, Delhivery, L&T, and various government agencies.

Garuda Aerospace earns revenue mainly through two channels: selling drones and offering drone services. It also provides training and has sold over 4,000 drones so far.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving success.