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Garuda Aerospace raises $1 million from Narotam Sekhsaria Family Office, others

Economic Times

Economic Times · 1m ago

Garuda Aerospace raises $1 million from Narotam Sekhsaria Family Office, others

Drone startup Garuda Aerospace raised $1 million in funding from Narotam Sekhsaria Family Office and WFC. The funds will enhance manufacturing capacity, expand R&D, and boost export presence globally. Founded in 2015, the Chennai-based company manufactures over 30 types of drones, operates in 84 cities, and serves 750 clients, including major corporations. With $21 million raised to date, Garuda plans to increase its global footprint and diversify revenue beyond its primary agriculture sector.

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D2C beauty brand Pilgrim raises 200 crore in a mix of primary, secondary funding

Economic Times

Economic Times · 4m ago

Pilgrim, a D2C beauty and personal care brand, secured Rs 200 crore in funding led by the Narotam Sekhsaria Family Office. With contributions from Vertex Ventures, Sattva Family Office, and others, this round positions Pilgrim at a Rs 3,000 crore valuation. Pilgrim aims to expand offline distribution, boost R&D, and enhance its omnichannel presence, targeting a Rs 1,000 crore revenue run rate by 2025. It competes with brands like Mamaearth and Wow Skin Science.

ETtech Deals Digest: Startups raise $1.1 billion this week; up 5x on-year

Economic Times

Economic Times · 4m ago

ETtech Deals Digest: Startups raise $1.1 billion this week; up 5x on-year

Startups raised approximately $1.1 billion from March 15 to 21, a nearly fivefold increase from last year’s period. This marked a 229.5% rise from the previous week’s $342.4 million. Funds were raised through 27 deals compared to 37 deals a year ago, which totaled $238 million. Key deals included Erisha E Mobility's $1 billion investment, Nivara Home Finance's $28 million Series B funding, and Pilgrim's $23.1 million funding round led by Narotam Sekhsaria Family Office.

Khetika raises $18M in Series B funding, eyes 10X revenue jump over three years

YourStory

YourStory · 1m ago

Khetika raises $18M in Series B funding, eyes 10X revenue jump over three years

Clean-label food brand Khetika has secured $18 million in Series B funding led by Narotam Sekhsaria Family Office and Anicut Capital, with participation from existing investors. Founded in 2017, Khetika offers products like batters and spices, sourced from 14 Indian states. The funding will enhance its manufacturing capacity, product portfolios, and market reach. They aim for Rs 2,000 crore revenue in three years, leveraging channel expansion and international market entry.

Pilgrim secures ₹200 crore to expand offline presence

Inshorts · 4m ago

Pilgrim secures ₹200 crore to expand offline presence

D2C beauty and personal care brand Pilgrim has raised ₹200 crore via a mix of primary and secondary transactions at a pre-money valuation of ₹3,000 crore. The round saw participation from existing investors Narotam Sekhsaria Family Office, Vertex Ventures SEAI, and Mirabilis Investment Trust.

Startup news and updates: Daily roundup (October 4, 2024)

YourStory

YourStory · 10m ago

Startup news and updates: Daily roundup (October 4, 2024)

- Turbostart invests $1 million in AI Health Highway as part of its pre-Series A funding round. - Takuro Takeuchi appointed as the new Chief Representative of JICA India. - MS Dhoni continues as the brand ambassador for Garuda Aerospace. - Groww Creditserv receives a stable A/A1 rating from ICRA. - Garuda Aerospace forms international partnerships with Thales, Agrowing, and Spirit Aeronautics.

Dairy Brand Sid’s Farm Raises $10 Mn Week After Roping In New CTO

Inc42 · 1y ago

Sid's Farm, a Telangana-based D2C dairy startup, has raised $10 million in Series A funding from Omnivore and Narotam Sekhsaria's family office. The funding will be used for manufacturing, team building, and expansion in Hyderabad and Bengaluru. The company, which recently appointed Sunil Potturi as CTO, competes with brands like Country Delight and Akshayakalpa, serving 20,000 daily customers.

Drone maker Garuda Aerospace raises Rs 25 crore from Venture Catalysts, others

Economic Times

Economic Times · 1y ago

Drone maker Garuda Aerospace raises Rs 25 crore from Venture Catalysts, others

Garuda Aerospace, a drone maker based in India, has raised Rs 25 crore ($3.4 million) in funding from venture capital firms including Venture Catalysts. The company plans to use the funding to expand its manufacturing capabilities and launch new products in the market. With the increasing demand for drones in various sectors such as agriculture, surveillance, and delivery, Garuda Aerospace aims to capitalize on the growing market opportunities.

MS Dhoni Tops Up Bet On Drone Startup Garuda Aerospace

Inc42 · 10m ago

MS Dhoni Tops Up Bet On Drone Startup Garuda Aerospace

- MS Dhoni has invested in Chennai-based drone startup Garuda Aerospace - Dhoni is the brand ambassador for Garuda Aerospace - Garuda Aerospace has a vision to make India a global drone hub by 2030 - The startup secured $22 million in Series A funding recently - Garuda Aerospace aims to sell 25,000 drones in the next 18 months - The company plans to export 10,000 drones to about 100 countries

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

Entrackr

Entrackr · 3m ago

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

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.

Garuda Aerospace donates Rs 1 Crore worth of kisan drones to Kaushalya Skill University in Gujarat

OutlookIndia

OutlookIndia · 1y ago

Garuda Aerospace donates Rs 1 Crore worth of kisan drones to Kaushalya Skill University in Gujarat

Garuda Aerospace has signed an MoU with Kaushalya - The Skill University to enhance drone technology education in India. As part of the agreement, Garuda Aerospace will provide 10 small category agricultural drones worth Rs 1 crore to the university for specialized training programs in agriculture. The company will also offer mentorship support and placement assistance to students and start-ups affiliated with the university. Garuda Aerospace, known for its drone manufacturing, plans to raise a pre-IPO round by January and go public by June or July next year.

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