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MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round

EntrackrEntrackr · 4m ago
MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round
Medial

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round Drone technology startup Garuda Aerospace has raised Rs 100 crore ($11.6 million) in its Series B funding round led by Venture Catalysts (VCAT) at a post-money valuation of $250 million. Previously, the firm had raised $22 million in its Series A round led by Venture Capital firm SphitiCap in February 2023. The fresh proceeds will be used to scale up drone manufacturing, enhance production capabilities, and complete an R&D and testing center focused on defense drone technology. Founded in 2015 by Agnishwar Jayaprakash, Garuda has grown to a team of over 200 members and manufactures 30 drone types while offering 50 services. Garuda currently holds over 20 patents and operates a fleet of over 400 drones with 500 trained pilots across 84 cities. It serves clients including government agencies and major corporations such as TATA, Reliance, and Adani. It has also partnered with global companies like Lockheed Martin and Elbit Systems. As per TheKredible, Garuda Aerospace’s revenue from operations grew by 2.3X to Rs 110 crore in FY24 from Rs 47 crore in FY23. Its net profit reached Rs 16 crore in FY24, a 2.7X increase from Rs 6 crore in the previous year. Garuda competes with the likes of ideaForge, Aarav Unmanned Systems, Throttle Aerospace Systems, General Aeronautics, and Omnipresent Robot Tech in the drone manufacturing and drone-as-a-service (DaaS) segment across defense, agriculture, and industrial applications.

Marwari Catalysts unveils Rs 4,000 Cr Impact Fund

EntrackrEntrackr · 5d ago
Marwari Catalysts unveils Rs 4,000 Cr Impact Fund
Medial

Marwari Catalysts unveils Rs 4,000 Cr Impact Fund Backed by over 150 co-investors, family offices and 200+ global mentors, the initiative coincides with MCats’ expansion into Dubai and Singapore. Marwari Catalysts (MCats), a Jodhpur-based startup accelerator, has announced plans to build a Rs 4,000 crore ($500 million) impact-focused portfolio by 2027. “We believe valuations shouldn’t eclipse values,” said Sushil Sharma, founder of Marwari Catalysts. “This fund is our blueprint for a more resilient and inclusive India. Success isn’t just about unicorns; it’s about building companies that improve lives and create lasting social change.” Since inception, MCats has invested in more than 100 early-stage ventures nationwide, generating over 5,000 jobs. Around 35% of its portfolio companies are led by women co-founders, with several key leadership roles also held by women. Through its investments and mentoring programmes, MCats aims to advance multiple UN Sustainable Development Goals (SDGs), including quality education, gender equality, decent work and economic growth, sustainable cities and climate action. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

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