Chennai-based drone company Garuda Aerospace recently closed an $11.6 million Series B funding raise at a valuation of $250 million, according to reporting by Deal Street Asia.
Venture Catalysts, a venture capital firm and tech incubator headquartered in Mumbai, led the company’s latest round. The firm also co-led Garuda’s $5.5 million Series A funding raise in October 2023.
Founded in 2015, the aerospace company develops over 30 different types of drones and provides several drone-enabled services. These include facility inspection, crop monitoring and defense surveillance services.
The new cash will help Garuda Aerospace scale its production facility, according to Deal Street Asia. Additionally, the company will move forward with plans to open a research and development and testing facility to advance new defense capabilities for its drone systems.
