Garuda Aerospace raises Rs 25 crore from Venture Catalysts, WeFounderCircle, others
WeFounderCircle. Other investors include Hems Angels, San Angels, Peaceful progress funds.
Agnishwar Jayaprakash, Founder CEO, Garuda Aerospace, said in a statement, “This fresh capital infusion will play a crucial role in accelerating our growth and enhancing our capabilities to meet the escalating market demand.”
Neeraj Tyagi,Co-Founder & CEO, We Founder Circle, said in a statement, «Garuda is disrupting the drone ecosystem by introducing the micro entrepreneur business model for rural India. We believe in their vision to use drone for Bharat, and feel that they will unlock a very big value for agriculture use of drone, by involving young rural level entrepreneurs.»
The funds secured through this bridge round will be primarily utilised to address the sudden demand for drone solutions.
The company will allocate the funds towards working capital requirements, ensuring seamless execution of the IFFCO drone order and fulfilling the pre-booked orders from numerous dealers across the country.
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