Dhoni Backed Drone Startup Raises ₹25 Crore In Funding To Meet Soaring Demand

India's homegrown drone startup, Garuda Aerospace, has announced a fresh bridge round of funding. The company recently secured ₹25 crore in funding, with leading investors including Venture Catalysts and WeFounderCircle spearheading the investment.

This funding round also saw substantial contributions from notable investors like Hems Angels, San Angels, Peaceful Progress funds, and several prominent angel investors. Collectively, their investments have propelled the company forward, fulfilling the funding requirements for Garuda Aerospace.

This startup, famously backed by cricketing legend MS Dhoni, is now gearing up to meet the surging demand for drone solutions. The company's mission is to harness these funds effectively, directing them towards working capital requirements, seamless execution of a massive order, and fulfilling pre-booked orders from numerous dealers across the country.

Garuda Aerospace has recently received a massive order for 400 drone units and secured pre-bookings for an astounding 10,000 drones from 700 dealers across India, all in partnership with IFFCO (Indian Farmers Fertiliser Cooperative Limited). This deal is not only a significant milestone for the startup but also marks its commitment to contributing to Indian agriculture.

Speaking about this milestone funding round, Agnishwar Jayaprakash, the founder and CEO of Garuda Aerospace, expressed his enthusiasm. "This fresh capital infusion will play a crucial role in accelerating our growth and enhancing our capabilities to meet the escalating market demand. With the continued backing of esteemed investors and the endorsement of MS Dhoni, we are confident in our mission to revolutionize the drone technology sector in India."

Founded in 2015 by Agnishwar Jayaprakash, an alumnus of Harvard Business School and a former Asian gold medalist, Garuda Aerospace specializes in the design and manufacture of precision agriculture drones. With this recent boost in funding, the company is well-positioned to capitalize on its expertise, already securing an impressive 55% market share in the Precision Agri Drone industry.

This infusion of capital marks a significant step forward for Garuda Aerospace, indicating not only the growing appetite for drone technology in India but also the success of a homegrown startup in meeting the burgeoning demand.