M.S. Dhoni-Backed Garuda Aerospace Secures $33.4 Million In Funding, Aims To Turn India Into A Drone Hub By 2030

The cricket player and former captain of the Indian cricket team revealed on Facebook that he is still progressing with his IPO-bound company, 'Garuda 'Aerospace. He added that he supported Garuda's goal of turning India into a drone hub by 2030.

Dhoni's initial association with startup

Dhoni's involvement with the startup began in 2022 when Prime Minister Narendra Modi signalled the activation of 100 drones in 100 locations. Garuda Aerospace has increased its revenue since then.

The startup has raised USD 33.4 million in equity funding over the course of eight rounds, according to market research firm Tracxn. As of August 24, 2024, its valuation was USD 255 million.

"As Garuda spreads its wings across the world, I am proud to be associated with the team's journey in positively impacting agriculture, defence, industry 4.0, and the consumer drone sector as their captain," M.S. Dhoni said about his role as brand ambassador and stakeholder for the airline.

'Mahi Bhai has been an inspiration for all of us at Garuda Aerospace,' said Agnishwar Jayaprakash, the company's founder and CEO. Every single one of us is inspired to always give our all by his support and encouragement.

Garuda Aerospace partnering with

In the past, Garuda Aerospace has international agreements with businesses such as Spirit Aeronautics (Greece), Agrowing (Israel), and Thales (France).

According to a release from the startup, these partnerships prioritise technology transfer and local manufacturing, which lowers costs while generating employment opportunities for the community.

Drones used for various application

By entering the defence drone market, Garuda hopes to increase its presence in the field of defence technology. Within the next two years, the company hopes to become a market leader in the defence segment while working on developing drones for military applications.