In conjunction with international behemoths from the aerospace and defence industries, Garuda Aerospace will use the funds acquired to concentrate on developing cutting-edge drone solutions for the armed forces.
"At a time when other Unicorn start-ups are downsizing, Garuda is hiring because growth is based on profitability, sustainability, and revenues," said Agnishwar Jayaprakash, founder and CEO of Garuda Aerospace. “We are cash positive because of our strong order book of contracts with three years of exclusivity. Our net profit margin is 24%. With a $250 million market cap, Garuda Aerospace is currently the most valuable drone company in India.”
Long-term collaborations between Garuda Aerospace and Lockheed Martin, Elbit Systems, Indian Institute of Science, IIT-M, and MIT Boston have been signed.
A team of more than 500 pilots and a fleet of 400 drones spread across 26 cities make up Garuda Aerospace's current fleet, which is still expanding.
In February 2022, Prime Minister Narendra Modi inaugurated Garuda Aerospace's Kisan Drone manufacturing plants in Gurgaon and Chennai. The Prime Minister also waved off the Kisan Drone Yathra, which saw 100 drones take off simultaneously across 100 Indian villages as part of the launch.
Garuda Aerospace's low-cost drone-based solutions are backed by hardware, software, and analytical tools that will help the agriculture industry enhance efficiency and cut costs.
Farmers can save up to 80% on water and 90% on pesticides by using Garuda Aerospace's 'Drone as a Service' concept, which takes less time to cover big farming areas. It has also been found that using Kisan Drones has resulted in a 60% boost in agricultural yield and a 20% reduction in crop loss, thanks to higher precision levels of roughly 75%.
About Garuda Aerospace
Garuda Aerospace has expanded its capabilities beyond surveillance and mapping over the recent past and included Drone-based thermal imaging, ultrasonic thickness testing, inventory management, and a variety of Industry 4.0 upgrade services.
