Garuda Aerospace deals: Garuda Aerospace, a drone company based in Chennai, has raised ₹100 crore in its latest Series B funding round. This investment came from Venture Catalysts (Vcats++), and it now values the company at USD 250 million. The money will help Garuda grow faster, build better drones, and expand both in India and around the world.
The company wants to improve its production by building bigger factories. It is also planning to do more research and development, especially in making defence drones. A brand-new design centre is also part of the plan. Garuda is working in both civil and defence areas and already owns more than 20 patents. It wants to create even more new ideas and grow its collection of innovations.
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According to Money Control, Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace, said: “This Series B funding is a defining milestone in Garuda Aerospace’s growth journey. It not only strengthens our capacity to scale manufacturing and innovation but also positions us to accelerate the development of next-generation drones technology. As we prepare for 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.”
Making India a Drone Leader by 2030
Garuda is quickly setting up special research and testing facility for its advanced drones, also known as unmanned aerial systems.
The company is not just working in defence. It is also very active in other areas like farming, goods delivery, building projects, and public services. It already works with big Indian companies like Tata, Reliance, and Hindustan Unilever (HUL).
The company has strong support from famous people too. MS Dhoni, the former captain of India’s cricket team, is still working with Garuda. He is both an investor and the brand ambassador.
Apoorva Ranjan Sharma, Co-founder and Managing Director of VCAT, said: “We are immensely proud to lead this landmark Series B funding for Garuda Aerospace. This investment is closely aligned with our strategy of supporting homegrown champions that have the potential to transform India’s technological landscape and create significant socio-economic impact. The role Garuda is playing in strengthening India’s indigenous defense manufacturing ecosystem, while also creating a global footprint, is something that truly excites us. We firmly believe that in the years to come, Garuda Aerospace will emerge as a global leader in drone technology, making India the drone hub of the world by 2030.”
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India is already focusing more on making drones. New rules like the Drone Rules 2021 and the PLI (Production Linked Incentive) scheme are helping companies like Garuda grow. Garuda also works with big government partners like HAL and BEML for contract manufacturing. These partnerships help it stay efficient while keeping costs low.
Garuda Aerospace deals
Garuda runs its business in a smart and light way. It does not own a lot of physical assets and believes in slow but steady growth. This way, it stays profitable and strong. Right now, it earns gross margins of 30–32%, an EBITDA of 24%, and a profit after tax (PAT) of 15%.
Back in the financial year 2020–21, Garuda made only ₹2 crore in revenue. Now, in 2024–25, it expects to earn ₹122 crore. For the next year, it hopes to grow two to three times more, thanks to new defence deals, exports, and government projects. With this growth, Garuda Aerospace is well on its way to becoming a key name in the drone world—both in India and beyond.
