Garuda Aerospace raises $22 mn, aims to sell 25,000 drones in next 18 mnths
Drone startup Garuda Aerospace on Monday said it has raised $22 million which is touted as the largest-ever Series A funding in the drone sector.
Venture capital firm SphitiCap invested $12 mn along with participation from other global investors, angel investors and high networth individuals (HNIs) at $5 million.
Another $5 million from an infra-development company, a group of HNI and angel investors from India, the UAE and Singapore was earlier secured by the drone startup.
“Garuda Aerospace aims to sell 25,000 drones in the next 18 months and is looking forward to exporting 10,000 drones to about 100 countries in the next 15 months,” said Agnishwar Jayaprakash, Founder and CEO.
