A Chennai-based entrepreneur’s drone startup has raised $22 million, the highest in the sector.
What’s it about? Chennai entrepreneur Agnishwar Jayaprakash’s drone startup Garuda Aerospace has raised $22 million. It’s the largest-ever Series A funding in the drone sector. The former professional swimmer brought in MS Dhoni as the company’s brand ambassador. It’s the first drone company to get dual DGCA approvals for manufacturing and pilot training.
- A part of the money raised will be used for R&D to accelerate the development of advanced drones for the army. It’ll be done in partnership with global companies in the defence and aerospace sectors.
- The money will also be used to train drone pilots and create employment opportunities in tier 2 and 3 cities. The company already has 400 drones and more than 500 pilots in 26 cities in India.
Journey and future: In January, the company launched its digital brand film KhetonKeKaptan jointly produced with Dhoni Entertainment Private Limited. It showed how its drones could help farmers. In the next 18 months, the company is looking to sell 25,000 drones and export 10,000 to 100 countries.