City-based drone-as-a-service company
Garuda Aerospace said that has raised $5 million from a large infrastructure development company, high-net-worth individuals and angel investors.
With the acquired funds, Garuda Aerospace will focus on building advanced drone solutions for the armed forces in collaboration with global giants from the defence and aerospace sectors, the company said on Thursday.
Garuda Aerospace has inked long-term partnerships with
Lockheed Martin, Elbit Systems, the
Indian Institute of Science, IIT-M, and
MIT Boston.
According to
Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace the company has had an order book position for three years.
SEE ALSO:
Paytm's lending and merchant businesses drive revenue growth in Q2 – low penetration offers headroom for growth say analystsIONIQ5 to be Hyundai's first model for India under new platform