Garuda Aerospace in talks to close $15 million in Series A funding

Garuda Aerospace, a Chennai-based firm that designs, builds and customises unmanned aerial vehicles or drones for various applications, is in talks to raise $15 million in Series A funding from global investors in exchange for 20 per cent equity. The firm expects to close Series A in two weeks.

Garuda has recently been enlisted by the Tamil Nadu Government to spray disinfectants on public spaces, including hospitals, five- star hotels, markets, government offices and roads across the State for 30 days with its fleet of 300 drones and 500 pilots, in order to stop the community spread of coronavirus.

Since then, the company has received more such orders from various States including Chhattisgarh where work has already begun in its capital city Raipur, and Uttar Pradesh, where work is expected to begin in Varanasi, next week. The Maharashtra and Odisha governments have also contacted the company for the same.