Chennai, Oct 25 (IANS): With a confirmed order for 400 drones from Indian Farmers Fertiliser Cooperative Limited (IFFCO) and about 10,000 pre-bookings from various dealers, drone maker Garuda Aerospace has raised Rs 25 crore from investors for working capital and other purposes.
According to Garuda Aerospace, the company has raised Rs 25 crore from Venture Catalysts and WeFounderCircle.
The funding round witnessed commitments from other investors, including Hems Angels, San Angels, Peaceful progress funds, and others.
“This fresh capital infusion will play a crucial role in accelerating our growth and enhancing our capabilities to meet the escalating market demand.
"With the continued backing of esteemed investors and the endorsement of M.S. Dhoni, we are confident in our mission to revolutionize the drone technology sector in India,” said Founder CEO, Garuda Aerospace, Agnishwar Jayaprakash,