Dhoni | Drone
Dhoni invests in drone maker Garuda Aerospace praised by Elon Musk last year
Mumbai: Former Indian cricket captain Mahendra Singh Dhoni has invested an undisclosed amount in a home-grown drone-as-a-service (DaaS) company, media reports said.
Dhoni has invested in Chennai-based Garuda Aerospace as part of a bridge round ahead of a $30 million Series A round, which the company is in the process of closing by July end, ET reported.
Post the Series A round investment, the company will be valued at $250 million, according to the company's founder Agnishwar Jayaprakash, said the report.
This is the largest ever Series A round for any drone company, he said, adding that the company has been receiving a lot of interest after Prime Minister Narendra Modi inaugurated Drone Mahotsav.
Dhoni will also be the face and brand ambassador of the company.
Garuda Aerospace was founded in 2015 and since then made significant inroads in the drone startup ecosystem.
It offers low-cost drone-based solutions for a variety of sectors and has designed 38 drones for a variety of sectors, including spraying in agricultural fields, mapping, security, surveillance, and sanitization.
Tesla and Space X CEO Elon Musk lauded the company's expertise last year, leading to a $1 million term sheet with a global fund for the company's Surya drone.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
