Garuda Aerospace Gets Licence To Supply Drones To Overseas Markets

Venture Catalysts-backed drone tech startup Garuda Aerospace has bagged export licence, now allowing it to supply drones to overseas markets, including US, Australia and Middle East.

With this move, Garuda aims to expand its global footprint. Notably, the company in partnership with a Sri Lanka-based agritech firm, CYOL, launched its operations in the country last year.

The drone tech company will focus on expanding export of its agriculture-centric drone – Garuda Kisan.

This drone facilitates precision farming and provides agritech services, including crop scouting, treatment and irrigation. It also helps farmers with real time data, enabling data-driven decision making. 

While Garuda is looking to tap into the agricultural sector in the US and Australia, it will cater to security and surveillance needs in the Middle East.

“This export licence is a monumental step in our journey to becoming a leading global drone exporter. It reflects our unwavering commitment to diversifying revenue streams beyond India and gaining an early-mover advantage in emerging drone markets,” said Garuda founder Agnishwar Jayaprakash.

Founded in 2015 by Jayaprakash and Rithika Mohann, Garuda Aerospace is a drone manufacturing company which builds drones catering to defence, agriculture and consumer segments. The company claims to have more than 100 government agencies and more than 500 private companies among its client portfolio.

Besides, Grauda also received authorisation for Remote Pilot Training Organisation (RPTO) from the DGCA for Small & Medium Class drones.

The export licence acquisition comes on the back of the company raising INR 100 Cr in a Series B funding round led by Venture Catalysts to scale up its production facilities and to fuel its research and development strategy. MS Dhoni has also invested in the company over multiple tranches.

Earlier this year, Garuda also infused INR 1 Cr in MapmyIndia-backed drone manufacturing startup Zuppa Neo Navigation Technologies. 

As per Tofler, the company recorded a net profit of INR 15.8 Cr in the financial year ended in March 2024 (FY24), against INR 6.2 Cr in the previous fiscal. On the other hand, its sales for the year under review also skyrocketed to INR 109.9 Cr from INR 47 Cr in FY23.

How Drone Is Revolutionising India’s Defence Landscape 

India’s defence sector has turned a new leaf by incorporating drones as an essential part of the ecosystem.

During Operation Sindoor, the central government issued statements praising the performance of indigenous high-tech systems, including Drone Federation India (DFI), and drone tech startups like IG Drones, Paras Defence & Space Technologies, Tata Advanced Systems, and Alpha Design Technologies.

At that time, DFI’s president Smit Shah said that the country might invest as high as $470 Mn on UAVs over the next 12 to 24 months.

Notably, drone tech startups are getting a lot of traction from the investors.

Last month, drone startup Raphe mPhibr raised $100 Mn in a funding round led by General Catalyst, to manufacture comprehensive and customised UAV solutions. 

Similarly, defence-focussed dronetech startup Vayudh has raised $10 Mn in April.

As per Inc42 report, the Indian drone tech industry is expected to become a $13 Bn market by 2030.