The spherical additionally noticed participation from present buyers, together with WFC (We Founder Circle). This comes after the $12 million funding spherical in April.
The funds shall be used for scaling up manufacturing capability from the present 8,000 drones yearly to between 12,000 and 15,000 items. It can additionally spend money on accelerating analysis and growth (R&D) efforts and increase its export presence to 50 international locations by the year-end.
In keeping with founder and chief govt Agnishwar Jayaprakash, the corporate is presently producing income from India however plans to increase to the US and Africa, amongst different areas.
“We’re additionally creating a variety of parts that we’re manufacturing in-house to scale back the reliance or dependencies on overseas imports. And extra importantly, we have additionally centered a bit extra on the software program and the automation of the drones,” he instructed ET.
Based in 2015, the Chennai-based firm manufactures greater than 30 kinds of drones and presents varied providers, together with drone-as-a-service (DaaS) and pilot coaching. The corporate operates a fleet of 400 drones and 500 pilots throughout 84 cities. It has served over 750 purchasers, together with the Tatas, Adani, Reliance, Swiggy, Flipkart, Delhivery and L&T, in addition to authorities businesses.
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Garuda Aerospace generates income by way of two principal streams: one, from the sale of its drone merchandise and second, by way of drone services. It additionally supplies coaching providers. The corporate has offered over 4,000 drones. “Virtually 70% of our income comes from agriculture, because it represents the best utilisation of drone providers within the nation. Whereas agriculture will stay a significant supply, this yr we’ll even have protection orders and world industrial providers contracts, which can contribute to our income,” he stated.
The startup has raised round $21 million in complete up to now.
In keeping with Jayaprakash, Garuda Aerospace posted a income of Rs 123 crore for the fiscal yr ended March 2025, up from Rs 109 crore in FY24. The corporate has been worthwhile for the final 4 years, he added.