Funding · Government, Defense & Space

IG Defence raises $5 Mn in Pre-Series A round

By Startup Enthusiast · 17 March 2026

What they do

IG Defence builds drones for defence and civil applications

It raised ~$5 Mn (₹46.2 Cr) in an ongoing Pre-Series A round from India Accelerator, Finvolve, and family offices

The company supplied FPV striker drones during Operation Sindoor and secured a contract from the Indian Army in January

IG Defence (formerly IG Drones) raised ~$5 Mn (about ₹46.2 Cr) in an ongoing Pre-Series A round.
Investors include India Accelerator, Finvolve, and family offices.
The post-money valuation is ₹422 Cr ($45 Mn).
The company has raised a total of $1.4 Mn over seven years.
IG Defence supplied FPV striker drones during Operation Sindoor as a government partner.
It secured a significant contract from the Indian Army in January for VTOL and FPV drones within a month.
The company was renamed to IG Defence after Operation Sindoor.
It launched Project KAL, an indigenous one-way attack unmanned system for deep-penetration missions.

The funding comes as IG Defence expands its manufacturing capacity to 1 Lakh FPV drones.
It claims 80% of FPV drone contracts in India.
The company's FY25 revenue was ₹22.4 Cr, up 330% YoY from ₹5.17 Cr in FY24.
It targets ₹100 Cr in revenue for FY26.

IG Defence builds drones for defence and civil use cases.
It supplies FPV striker drones and VTOL drones to the Indian Army.
The company launched Project KAL, a one-way attack unmanned system with a range up to 1,000 km and endurance of 3-5 hours.
Project KAL targets radar, logistics hubs, and critical infrastructure.
IG Defence sold over 5,000 drones during the fiscal.
Its manufacturing capacity has expanded to 1 Lakh FPV drones.
Revenue split is 60:40 government to private clients.
The company claims 80% of FPV drone contracts in India.

IG Defence plans to continue raising capital for product development and expansion.