.png)
.png)
Total amount raised
$37M
Latest funding date
2025-06-11
Location
Garuda Aerospace has successfully raised $22 million in Series A funding in February 2023, followed by an additional INR 25 crore ($3 million) in a bridge funding round in October 2023. The company specializes in developing unmanned aerial vehicles (UAVs) for various applications, including defense, agriculture, and industrial inspections.
What Is Garuda Aerospace?
Garuda Aerospace, founded in 2015 by Agnishwar Jayaprakash and Rithika Mohan, is based in Chennai, Tamil Nadu, India. The company specializes in developing unmanned aerial vehicles (UAVs) for various sectors, including defense, agriculture, and industrial inspections. With a workforce of 251–500 employees, Garuda Aerospace is committed to revolutionizing human endeavors through AI-powered aerial intelligence and advanced drone solutions.
How Much Funding Has Garuda Aerospace Raised?
- Angel / Strategic Round
- Amount Raised: Approximately ₹10 crore (undisclosed exact figure)
- Date: May 2022
- Lead Investors: Mahendra Singh Dhoni (brand ambassador and strategic investor)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain initial capital and a high-profile brand partner for market entry.
- Seed Round (Pre-Series A)
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Ocgrow Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale initial operations.
- Series A — First Tranche
- Amount Raised: ~$5M (₹409.1M)
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series A — Main Round
- Amount Raised: $22M
- Date: February 2023
- Lead Investors: SphitiCap
- Valuation at Round: ~$250 million
- Motivation Behind the Round: Largest-ever Series A in Indian drone sector; to expand market reach and scale operations.
- Bridge Round
- Amount Raised: ₹25 crore (~$3M)
- Date: October 2023
- Lead Investors: Venture Catalysts, We Founder Circle (WFC)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Working capital to fulfill IFFCO's 400-drone order and pre-booked dealer orders nationwide.
- Series B — Main Round
- Amount Raised: ₹100 crore (~$11.7M)
- Date: April 16, 2025 (round initiated March 2024)
- Lead Investors: Venture Catalysts (VCAT)
- Other Participants: Badshah Masala, MGM Foundation, Hathor Corporate Advisors, Biz Secure Labs Pvt Ltd, We Founder Circle, Mahendra Singh Dhoni
- Valuation at Round: ~$250–$270 million
- Motivation Behind the Round: Enhance drone manufacturing capacity, expand production facilities, and develop an R&D center for defense drones.
- Series B — Extension
- Amount Raised: $1M (₹8.57 crore)
- Date: June 11, 2025
- Lead Investors: Narotam Sekhsaria Family Office (new investor)
- Other Participants: We Founder Circle
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Accelerate drone manufacturing capacity and global expansion ahead of planned IPO.
Total Amount Raised: At least $37M based on disclosed funding (sources vary; Tracxn reports ~$49.5M across 9 rounds including undisclosed tranches).
Current Valuation: ~$250–$270 million (as of April 2025).
Key Investors
- Venture Catalysts (VCAT)
- Details: India's first integrated incubator and a leading early-stage investor. Venture Catalysts led the ₹100 crore (~$11.7M) Series B round for Garuda Aerospace in April 2025 and co-led the ₹25 crore bridge round in October 2023.
- Investment Focus Areas: Early-stage startups, technology, consumer services
- Notable Investments: Garuda Aerospace, Beardo, Fynd, Innov8
- SphitiCap
- Details: SphitiCap led the $22 million Series A funding round for Garuda Aerospace in February 2023, contributing approximately $12 million of that total. The firm focuses on providing growth capital to innovative startups.
- Investment Focus Areas: Technology, growth-stage startups
- Notable Investments: Garuda Aerospace
- WeFounderCircle (WFC)
- Details: WeFounderCircle is a platform supporting early-stage startups through funding and mentorship. WFC co-led the ₹25 crore bridge round in October 2023 and participated in both the Series B main round and Series B extension in June 2025.
- Investment Focus Areas: Early-stage startups, technology, consumer services
- Notable Investments: Garuda Aerospace, Zypp Electric, MyScoot, Knocksense
- Narotam Sekhsaria Family Office (NSFO)
- Details: Narotam Sekhsaria Family Office made a strategic investment of $1M in Garuda Aerospace in June 2025 as part of the ongoing Series B extension, ahead of the company's planned IPO.
- Investment Focus Areas: Strategic investments, technology, manufacturing
- Notable Investments: Garuda Aerospace
- Mahendra Singh Dhoni
- Details: Cricket legend MS Dhoni joined as brand ambassador and strategic investor in May 2022, investing approximately ₹10 crore. He has remained a continuing investor, participating in subsequent rounds including the Series B.
- Investment Focus Areas: Sports-adjacent technology, consumer brands, startups
- Notable Investments: Garuda Aerospace, Khatabook, Dream11
What's Next for Garuda Aerospace?
Garuda Aerospace is poised to capitalize on the surging demand for drone solutions, particularly in precision agriculture and industrial applications. With pre-booked orders from 700 dealers and a strategic partnership with IFFCO for 400 drones, the company is well-positioned to meet market needs and expand its footprint.
Future fundraising opportunities appear promising, with plans for a Series B investment and a potential IPO by the end of next year. These efforts will likely provide the capital needed to scale operations and enhance technological capabilities.
However, challenges such as managing rapid growth, fulfilling large orders, and navigating regulatory hurdles could pose significant obstacles. Efficient resource management and strategic planning will be crucial for sustaining momentum and achieving long-term success.
Use Clay to Get Funding Data
Sales professionals, take your business development efforts to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Garuda Aerospace and gather other critical business insights. Sign up for free today and unlock the potential to drive your sales strategy with actionable intelligence.
