Garuda Aerospace raises $1 million from Narotam Sekhsaria Family Office, others
Garuda Aerospace
, backed by former Indian cricket team captain Mahendra Singh Dhoni, has raised $1 million in a funding round from the
Narotam Sekhsaria Family Office
(NSFO).
The round also saw participation from existing investors, including WFC (We Founder Circle). This comes after the $12 million funding round in April.
The funds will be used for scaling up manufacturing capacity from the current 8,000 drones annually to between 12,000 and 15,000 units. It will also invest in accelerating research and development (R&D) efforts and expand its export presence to 50 countries by the year-end.
According to founder and chief executive Agnishwar Jayaprakash, the company is currently generating revenue from India but plans to expand to the US and Africa, among 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,' he told ET.
Founded in 2015, the Chennai-based company manufactures more than 30 types of drones and offers various services, including drone-as-a-service (
DaaS
) and pilot training. The company operates a fleet of 400 drones and 500 pilots across 84 cities. It has served over 750 clients, including the Tatas, Adani, Reliance,
Swiggy
, Flipkart,
Delhivery
and L&T, as well as government agencies.
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Garuda Aerospace generates revenue through two main streams: one, from the sale of its drone products and second, through
drone services
. It also provides training services. The company has sold over 4,000 drones.
'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.
The startup has raised around $21 million in total to date.
According to Jayaprakash, Garuda Aerospace posted a revenue of Rs 123 crore for the fiscal year ended March 2025, up from Rs 109 crore in FY24. The company has been profitable for the last four years, he added.
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