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Garuda Aerospace secures orders for 500 Kisan drones under NaMo Drone Didi initiative

ThehindubusinesslineThehindubusinessline ยท 1y ago
Garuda Aerospace secures orders for 500 Kisan drones under NaMo Drone Didi initiative
Medial

Chennai-based drone company Garuda Aerospace has received an order worth โ‚น20 crore for 500 Garuda Kisan Drones from ten major fertiliser companies participating in the NaMo Drone Didi scheme. The drones will be provided to self-help groups to aid in the spraying of fertilisers and pesticides. The Garuda Kisan Drones are equipped with advanced technologies such as AI, ML, and GPS sensors, providing farmers with accurate and real-time information about their crops. The drones can increase crop yield by 60% and reduce crop loss by 20%. Garuda Aerospace has trained over 185 rural women under the NaMo Drone Didi scheme and is preparing for an IPO in 2024.

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Garuda Aerospace to set up dedicated defence drone facility near Chennai

YourStoryYourStory ยท 9m ago
Garuda Aerospace to set up dedicated defence drone facility near Chennai
Medial

Drone manufacturer Garuda Aerospace plans to establish a dedicated Defence Drone facility in Chennai as part of India's 'Make in India' campaign. The facility will have state-of-the-art design, manufacturing, and testing capabilities, and will focus on developing drones with ISR capabilities, swarm drones, tethered drones, and underwater drones. Garuda Aerospace aims to produce critical drone components locally and collaborate with international companies such as Agrowing and Spirit Aeronautics. The company's founder and CEO, Agnishwer Jayaprakash, stated that the Defence Minister, Rajnath Singh, supports Garuda Aerospace's plan to contribute to Aatmanirbhar Bharat (self-reliant India).

How Salam Kisan Is Pioneering The Indian Agritech Boom With Its Farming Drones

Inc42Inc42 ยท 1y ago
How Salam Kisan Is Pioneering The Indian Agritech Boom With Its Farming Drones
Medial

Mumbai-based agritech startup Salam Kisan offers drone-based soil testing, produce procurement, and marketplace services to farmers. With a user base of 58,000 farmers, the company primarily earns revenue from soil testing and drone services. Salam Kisan aims to secure external funding in the next financial year and is developing an in-house drone manufacturing unit to address operational challenges. The startup plans to introduce AI-powered multispectral and hyperspectral drones in the future and increase the representation of women in its farmer base through participation in the Drone Didi initiative. The agritech sector in India is expected to reach a $24 billion market opportunity by 2025.

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

EntrackrEntrackr ยท 3m 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 Aerospaceโ€™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.

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