February 16

Drone Startup Garuda Aerospace raises $22 million funding in Series A Round

Drone manufacturer and a leading market player in the agricultural drones and industry 4.0 services segment, Garuda Aerospace has raised US$22 million, the largest ever Series A funding in the drone sector. The round was led by Venture Capital firm SphitiCap which invested US$12 million along with participation from other global investors, angel investors and HNIs at US$5 million. Another US$5 million in funding from an infra-development company, a group of HNI and angel investors from India, UAE and Singapore was secured by the startup earlier, the Garuda Aerospace said today.

Photo courtesy of Andrew Turner.

Source: Agriculture Post (link opens in a new window)

Agriculture, Investing
innovation, startups