Backed by MS Dhoni, drone startup Garuda Aerospace secures ₹100 crore in Series B Funding from VCAT – Backed by MS Dhoni, drone startup Garuda Aerospace secures ₹100 crore in Series B Funding from VCAT BusinessToday

When Garuda Aerospace launched in 2015 with a 5-member workforce, few may have predicted the size it could obtain in lower than a decade. Now, India’s Most worthy drone startup has secured ₹100 crore in Series B funding from Enterprise Catalysts (VCAT), pegging its valuation at $250 million. This isn’t only a monetary milestone — it’s a strategic leap that can energy Garuda’s ambition to grow to be a world chief in indigenous drone manufacturing and protection innovation.

Garuda Aerospace, identified for its expansive drone fleet and technological foresight, is making ready to raise its manufacturing and analysis infrastructure. With greater than 20 patents below its belt, the startup is allocating a portion of its new funds towards increasing its mental property and establishing a brand new design facility centered on superior drone programs. 

The transfer displays its broader function in supporting India’s protection ambitions and the Atmanirbhar Bharat initiative. Alongside agricultural purposes, Garuda is constructing programs with over 85% indigenous content material regardless of dealing with provide challenges, additional embedding itself into nationwide priorities.

The Series B elevate, at a $250 million pre-cash valuation follows its earlier $100 million valuation in the course of the Series A spherical in 2022-23. Cricketer MS Dhoni, who joined as an investor and model ambassador in September 2024, has seen the spherical shut with substantial momentum.

Central to Garuda’s progress technique is the brand new 35,000 sq ft Garuda Drone Park, developed with Tata Elxsi and different companions, which can act as a reducing-edge R&D and testing hub. This enhances its manufacturing base in Chennai, forming the spine of its {hardware} innovation ecosystem.

Garuda additionally companions with protection manufacturing stalwarts HAL and BEML and operates on a lean, asset-mild mannequin, ensuing in spectacular financials — 30-32% gross margins, 24% EBITDA, and 15% PAT. Revenues have soared from ₹2 crore in FY20-21 to a projected ₹122 crore in FY24-25, with a 2-3x progress forecast for FY25-26.

“This Series B funding is a defining milestone in Garuda Aerospace’s progress journey,” stated Agnishwar Jayaprakash, Founder and CEO. “It not solely strengthens our capability to scale manufacturing and innovation but in addition positions us to speed up the event of subsequent-technology drones know-how.”

Enterprise Catalysts sees comparable promise. “The function Garuda is enjoying in strengthening India’s indigenous protection manufacturing ecosystem, whereas additionally creating a world footprint, is one thing that really excites us,” stated Apoorva Ranjan Sharma, Co-founder and MD of VCAT.

Garuda’s success story rides on India’s booming drone market, pushed by purposes throughout sectors and powerful authorities help via insurance policies like Drone Guidelines 2021 and the PLI scheme. The startup continues to diversify its shopper base — from Swiggy and Flipkart to NTPC and Lockheed Martin — whereas providing DaaS options and pilot coaching throughout 84 cities with a fleet of over 400 drones.