Funding · Mobility & Logistics

Garuda Aerospace raises ₹100 crore in Series B

By Startup Enthusiast · 16 April 2025

What they do

Garuda Aerospace makes over 30 types of drones and offers drone-as-a-service

It raised ₹100 crore in Series B funding led by Venture Catalysts at a $250 million valuation

The company plans to boost indigenous drone production and expand its R&D centre

Garuda Aerospace has raised ₹100 crore in a Series B funding round.
The round was led by Venture Catalysts (VCAT).
The company is now valued at $250 million.
The funds will be used to strengthen manufacturing capabilities for drone subsystems and components.
Garuda will also scale up its current production facility and build a new 35,000 sq ft facility in Chennai.
It plans to fast-track completion of an R&D and testing centre for advanced defence drone design.
The company aims to expand its intellectual property portfolio (currently over 20 patents).

The Indian drone market is growing due to Drone Rules 2021 and the PLI scheme.
Garuda aligns with the Atmanirbhar Bharat initiative for self-reliance in defence manufacturing.
The company targets making drones 85–88% indigenous (currently 45–55% critical components are imported).

Garuda Aerospace manufactures over 30 types of drones and offers drone-as-a-service (DaaS) and pilot training.
It operates a fleet of 400 drones across 84 cities in India.
The company has served over 750 clients including Tatas, Adani, HUL, Reliance, L&T, and government agencies.
It employs over 200 people and has over 500 pilots.
Garuda was the first drone company to receive DGCA approvals for drone type certification and remote pilot training.
It has partnerships with Tata Elxsi, Lockheed Martin, Cognizant, and Elbit Systems.
The company reported revenue of ₹110.8 crore and net profit of ₹15.8 crore in FY24.
It has over 20 patents, including six international ones.

Venture Catalysts (VCAT) (lead) — An early-stage venture capital firm co-founded by Apoorva Ranjan Sharma.
Mahendra Singh Dhoni (angel) — Former Indian cricket captain; became brand ambassador and investor in September 2024.

Product: Manufacturing and development of autonomous drones for agriculture, defense, and material handling; proprietary drone OS and R&D capabilities
Customers: Government agencies, defense sector, agricultural stakeholders, logistics operators in India and international markets
How it makes money: Direct sales of drones, software licensing, and training services for government and enterprise customers
What sets it apart: Proprietary defense-grade drone technology with presence in 50 countries; demonstrated capabilities for flood relief and disaster management