VC Fund Investments
Drone services provider Garuda raises funding led by Ocgrow Ventures, HNIs
Chennai-headquartered Drone-as-a-Service (DaaS) provider Garuda Aerospace has raised funding in a pre-Series A funding round led by Ocgrow Ventures and some high networth individuals (HNIs). Instarto acted as the financial advisor for the transaction. Founded in 2015 by Agnishwar Jayaprakash, the startup will use the funds for global expansion. The drone manufacturer claims to supply over 30 different types of drones to over 750 clients across industry verticals and services. It is engaged in long-term contracts with clients such as Survey of India, Godrej, National Highway Authority of India (NHAI), and Vedanta. Recently, it partnered with Swiggy for drone delivery trials in Bengaluru and Delhi-NCR.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
