Garuda Aerospace bags $22 million fund in Series A round led by SphitiCap
By MYBRANDBOOK
Garuda Aerospace, a startup in drone technology, in its Series A round raised a $22 million fund. The round was led by Venture Capital firm SphitiCap with the participation of other global investors, angels, and HNIs.
In the latest round SphitiCap invested $12 million, whereas other investors and HNIs contributed $5 million. The company raised $5 million as a part of its current Series A round in November 2022. As of now, the startup has raised $24 million in funding.
Indian cricket team captain Mahendra Singh Dhoni has also invested in it and is the brand ambassador of the company.
According to the company, the funds will be used to scale up R&D and operation. A part of the fund will also be used for the skilling and training of drone pilots and acquiring more resources for deepening its footprints in tier II and III cities.
Founded in 2015 by Agnishwar Jayaprakash, Garuda Aerospace is a drone-as-a-service (DaaS) startup that designs, manufactures and customizes drones for various use cases such as deliveries, disaster management and agricultural applications, among others. With over 200 team members, Garuda Aerospace claims to have a fleet of 400 drones and over 500 pilots across 26 cities in India.
It claims to have served over 750 clients including TATA, Godrej, Adani, Reliance, L&T, Amazon, Wipro, NHAI and Indian startups such as Swiggy, Flipkart, and Delhivery, among others for various projects. Garuda recently partnered with global giants such as Lockheed Martin, Cognizant, and Elbit Systems.
In the coming 18 months, the company is aiming to sell 25,000 drones and export 10,000 drones to around 100 countries in the coming 15 months.
Recently, Garuda sent its drones to provide support in the ongoing earthquake relief and rescue efforts in Turkey. It was also deployed for delivering medicines and vaccination during covid-19 outbreak in India.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
AMARA RAJA POWER SYSTEMS LTD.
BHARAT ELECTRONICS LTD.
ACER INDIA PVT. LTD.
RELIANCE JIO INFOCOMM LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Anil Kumar Lahoti
Anil Kumar Lahoti, Chairman, Telecom Regulatory Authority of India (TR...
Icons Of India : Girish Mathrubootham
Girish Mathrubootham is the Founder of Freshworks (previously known ...
ICONS OF INDIA : S KRISHNAN
S Krishnan as the secretary for the electronics and information techno...
PARTNER SPEAKERS
PSU
C-DAC - Centre for Development of Advanced Computing
C-DAC is uniquely positioned in the field of advanced computing...
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - ARVIND KRISHNA, CEO – IBM
Arvind Krishna, an Indian-American business executive, serves as the C...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
