Garuda Aerospace Bags INR 100 Cr From Venture Catalysts, Others
Chennai-based dronetech startup Garuda Aerospace has secured INR 100 Cr (about $11 Mn) in a Series B funding round led by Venture Catalysts, along with a host of other undisclosed investors. The startup claims to have raised the funding at a post-money valuation of $250 Mn. Garuda Aerospace plans to use the fresh capital to further scale up its production facilities and to fuel its research and development strategy. Founded in 2015 by Agnishwar Jayaprakash and Rithika Mohan, Garuda Aeropace is a drone manufacturer that provides multipurpose dronetech solutions for defence, agriculture, security and surveillance and transportation and logistics. The startup also provides drones-as-a-service solutions and also claims to have trained over 1 Lakh students as drone pilots. “As we prepare for a global growth expansion journey, this investment reinforces our commitment to building world-class, indigenous drone technologies that contribute to India’s economic progress, self-reliance in defense, and technological leadership on the global stage,” said Jayaprakash. The development comes almost six months after MS Dhoni backed the startup in an undisclosed deal. (The story will be updated soon) The post Garuda Aerospace Bags INR 100 Cr From Venture Catalysts, Others appeared first on Inc42 Media.
Chennai-based dronetech startup Garuda Aerospace has secured INR 100 Cr (about $11 Mn) in a Series B funding round led by Venture Catalysts, along with a host of other undisclosed investors.
The startup claims to have raised the funding at a post-money valuation of $250 Mn.
Garuda Aerospace plans to use the fresh capital to further scale up its production facilities and to fuel its research and development strategy.
Founded in 2015 by Agnishwar Jayaprakash and Rithika Mohan, Garuda Aeropace is a drone manufacturer that provides multipurpose dronetech solutions for defence, agriculture, security and surveillance and transportation and logistics.
The startup also provides drones-as-a-service solutions and also claims to have trained over 1 Lakh students as drone pilots.
“As we prepare for a global growth expansion journey, this investment reinforces our commitment to building world-class, indigenous drone technologies that contribute to India’s economic progress, self-reliance in defense, and technological leadership on the global stage,” said Jayaprakash.
The development comes almost six months after MS Dhoni backed the startup in an undisclosed deal.
(The story will be updated soon)
The post Garuda Aerospace Bags INR 100 Cr From Venture Catalysts, Others appeared first on Inc42 Media.
