Garuda Aerospace, a Chennai-based drone technology company that has been steadily making its mark since 2015, has now raised Rs 100 crore in a fresh funding round. The investment, part of its Series B funding, has been led by early-stage investment firm Venture Catalysts and brings the startup’s valuation to $250 million.
While the company has often been in the spotlight for being associated with former Indian cricket captain Mahendra Singh Dhoni, who is also a shareholder and brand ambassador, Garuda’s journey has been defined more by its growing relevance in India’s evolving drone ecosystem than any celebrity association.
The company also offers a range of agricultural drone solutions designed to enhance farming efficiency and sustainability. Its services include crop health monitoring, soil and water management, livestock tracking, planting assistance, and harvesting support.
Garuda’s flagship product, the Kisan Drone, is engineered for precision agriculture. It assists farmers with tasks such as pesticide spraying, crop surveillance, and yield estimation. The company has also partnered with Agrowing, an Israeli sensor technology firm, to integrate AI-powered multispectral imaging into their drones, enabling detailed analysis of soil, plant, and environmental conditions.
To support the adoption of drone technology in agriculture, Garuda Aerospace collaborates with financial institutions like the Bank of India to provide farmers with low-interest, collateral-free loans for purchasing agri-drones.
The freshly raised funds are set to be deployed towards multiple fronts — bolstering manufacturing capabilities, expanding production facilities, and advancing a research and development hub specifically focused on defence-grade drone technologies. This push reflects the company’s increasing alignment with India’s push for indigenous high-tech manufacturing, especially in critical sectors like defence.
Strengthening the Core: Manufacturing, R&D, and IP
Garuda Aerospace plans to significantly scale its manufacturing operations to meet rising demand from both civilian and defence sectors. At present, it offers over 30 different drone models and serves a broad spectrum of clients. The company’s drone applications span sectors such as agriculture, infrastructure inspections, logistics, and surveillance — areas that have seen growing demand due to both technological advancement and government-led production incentives.
The company is also accelerating the development of a state-of-the-art R&D and testing centre that will focus on the design and engineering of advanced defence drones. In parallel, Garuda is increasing its focus on intellectual property development. With more than 20 patents already in its portfolio, it is actively working to expand this base, which it considers integral to its long-term strategy and global competitiveness.
A Nationwide Presence and Expanding Workforce
Operating a fleet of around 400 drones across 84 Indian cities, Garuda Aerospace has managed to build a significant footprint. It has so far served more than 750 clients, including major corporations such as Tata, Adani, Hindustan Unilever, Reliance, and Larsen & Toubro. The company also works with various government departments, offering services such as drone-based surveillance, disaster response, and agricultural spraying.
Currently employing over 200 people, the company is expected to grow its team in the coming year as it adds more technical talent to support its expansion into defence and international markets. The focus is on building a multidisciplinary team that includes aeronautical engineers, AI specialists, and regulatory experts.
Also Read: 10 Game-Changing Applications of Drones That Are Transforming Agriculture in India
Growing Interest from Investors
This Rs 100 crore infusion follows an earlier bridge round in October 2023 where Garuda raised Rs 25 crore, also led by Venture Catalysts along with We Founder Circle. Before that, in February 2023, it secured $22 million in what was then the largest Series A round in India’s drone startup ecosystem.
For Venture Catalysts, which has been a repeat investor in the startup, the decision to double down on Garuda Aerospace fits into its broader thesis of supporting local companies building vital technologies. Apoorva Ranjan Sharma, the firm’s cofounder and managing director, described the investment as a way to back a company that contributes meaningfully to India’s defence and industrial landscape, while also positioning itself on the global stage.
A Favourable Policy Environment and Certification Milestones
The timing of Garuda’s funding is significant. The Indian government has, in recent years, taken steps to push domestic drone manufacturing. Initiatives like the production-linked incentive (PLI) scheme, liberalised drone rules, and regulatory reforms have helped create a more supportive environment for drone startups.
Garuda has been among the beneficiaries of this policy shift. It claims to be the first drone company in the country to secure approvals from the Directorate General of Civil Aviation (DGCA) for drone type certification and remote pilot training. These approvals are crucial for scaling operations in sectors like agriculture and infrastructure where safety compliance and operator training are mandatory.
By training drone pilots and offering drones-as-a-service (DaaS), the company has also managed to tap into rural and semi-urban demand, making its solutions more accessible to small and mid-sized businesses, and even individual farmers.
International Ambitions and Defence Priorities
As the company readies itself for its next phase, there is growing emphasis on exports and international expansion. The new funding will help build out capabilities that are essential for meeting international compliance standards and competing in global markets, especially in regions where there is interest in dual-use (civilian and defence) drone systems.
Founder and CEO Agnishwar Jayaprakash, who has steered Garuda since its inception, said the new investment marks an important step in the company’s broader journey. He noted that Garuda is not just building technology, but also contributing to India’s broader economic and strategic interests by enabling local innovation and high-tech manufacturing.
As defence and industrial applications of drones continue to grow globally, companies like Garuda will likely find themselves at the intersection of policy, innovation, and public interest. Whether through agricultural support, industrial inspections, or defence surveillance, drones are gradually becoming tools of practical necessity — and companies that can deliver both scale and reliability are in a strong position to shape this evolving space.
