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Drone player Garuda Aerospace raises $5 mn

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.

IANS | Chennai |

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, Garuda Aerospace the company has an order book position for three years.