Drone startup Garuda Aerospace looking to raise $30-M

Drone startup Garuda Aerospace Pvt Ltd is looking to raise more than USD 30 million to meet its capital expenditure requirements for manufacturing high quality drones for agricultural applications. It plans to invest INR 250 crore to develop drone technology and in R&D besides in manufacturing units to effectively compete with foreign players. The firm has units in Gurugram and Chennai where the drones will be manufactured.