Elon Musk saw Garuda Aerospace in July 2021 after the company’s tweet about their drone for cleaning solar panels. Due to this, an international fund agreed to invest $1 million in the Indian drone firm. The Indian firm has now received US $22 million to support its continued expansion.
According to the company, the most recent round is the largest series A capital in India’s drone industry. Along with other international investors, angel investors, and high-net-worth people, the round was led by local early-stage venture capital company SphitiCap, which invested US $12 million.
Garuda Aerospace, which was founded in 2015, claims to be the most valuable drone company in India with a US $250 million valuation. By 2030, according to founder and CEO Agnishwar Jayaprakash, the company may expand internationally and assist India in becoming the world’s drone hub.
The start-up produces 30 different types of drones, most of which are utilised for mapping, 4.0 infrastructure development, and precision agriculture, among other things. In the following 18 months, it plans to sell 25,000 drones, and in the following 15 months, it plans to export 10,000 drones to around 100 nations.
Some of the additional funding will be used by Garuda Aerospace to develop cutting-edge drone solutions for the armed services, assist in drone pilot training, and expand its presence in Tier 2 and Tier 3 Indian cities. Currently, it employs more than 500 pilots and 400 drones around the nation.
