2 days ago
Garuda Aerospace Secures Strategic Investment Ahead of IPO
The company says the capital infusion will fuel an aggressive expansion in drone manufacturing, increasing output from the current 8,000 units per year to between 12,000 and 15,000 annually
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Garuda Aerospace, one of India's prominent drone manufacturers, has received fresh funding from the Narotam Sekhsaria Family Office (NSFO) in the lead-up to its anticipated Initial Public Offering (IPO), according to a press release issued by the company. The investment round also saw renewed backing from existing investor We Founder Circle (WFC), reinforcing confidence in the firm's growth trajectory in the country's defence-tech sector.
This new funding arrives shortly after Garuda Aerospace closed a INR 100 crore Series B round led by Venture Catalysts. The company says the capital infusion will fuel an aggressive expansion in drone manufacturing, increasing output from the current 8,000 units per year to between 12,000 and 15,000 annually. Garuda's long-term production target is set at 50,000 drones per year.
The move follows the high-visibility 'Operation Sindoor Defence Drone Surge' and comes amid heightened interest in indigenous drone capabilities after recent regional tensions along India's border. With defence preparedness back in national focus, Garuda aims to accelerate R&D initiatives geared toward full indigenization of both airborne and ground-based drone systems within the next three to five years.
"This investment powers our next phase of growth, focused on innovation, national service, and global scale," said Agnishwar Jayaprakash, founder and CEO of Garuda Aerospace. "We are delighted to welcome the Narotam Sekhsaria Family Office as a strategic investor. Their belief in our journey reinforces our mission to build a global drone-tech champion from India."
Garuda, once primarily associated with agricultural drones, has rapidly diversified into surveillance, logistics, and tactical drone systems designed for defence applications. The company has delivered over 4,000 drones and built a client base of more than 400, backed by collaborations with major international players including Thales, Elbit Systems, Lockheed Martin, and Cognizant.
The firm's domestic ties are equally strong. Partnerships with Defence Public Sector Undertakings such as HAL and BEML, along with initiatives like "Namo Drone Didi," underscore its growing role in India's strategic ecosystem.
With its eyes now on expanding exports to 50 countries by 2025 and a looming IPO, Garuda Aerospace is positioning itself as a central force in India's push for self-reliance in defence technology.
