Legendary cricketer and former Indian cricket team captain MS Dhoni has boosted his investment in Chennai-based drone startup Garuda Aerospace. Dhoni, who also serves as the brand ambassador for the company, expressed his confidence in Garuda’s vision to make India a global drone hub by 2030. The investment comes as Garuda Aerospace prepares for an IPO and focuses on expanding its presence in the agriculture, defense, and consumer drone sectors.
Dhoni’s Continued Support and Investment
In a recent Facebook post, Dhoni announced that his journey with Garuda Aerospace continues to grow stronger as he tops up his investment in the startup. “As Garuda spreads its wings across the world, I am proud to be associated with the team’s journey in positively impacting agriculture, defense, Industry 4.0, and the consumer drone sector as their captain,” Dhoni stated.
Sources revealed that Dhoni has invested an additional Rs 3 crore in the drone startup, bringing his total stake to around 1.1 percent.
Garuda Aerospace’s Growth and Expansion Plans
Founded in 2015 by Agnishwar Jayaprakash, Garuda Aerospace has quickly become one of India’s most valuable drone startups. The company manufactures 30 types of drones and offers over 50 drone-related services, catering to various sectors such as agriculture, defense, and consumer markets.
Garuda Aerospace has raised $33.4 million in funding over eight rounds, with its valuation standing at $255 million as of August 2024. The startup aims to expand its global footprint by entering into partnerships with international companies like Thales (France), Agrowing (Israel), and Spirit Aeronautics (Greece). These collaborations focus on technology transfer and local manufacturing to reduce costs and create job opportunities.
Transition into the Defense Drone Sector
In addition to its strong presence in the agriculture and consumer drone markets, Garuda Aerospace plans to expand its reach in the defense technology sector. The company is developing cutting-edge drones for defense applications and aims to become a market leader in this segment within the next two years.
Founder and CEO’s Perspective
Agnishwar Jayaprakash, founder and CEO of Garuda Aerospace, expressed his gratitude for Dhoni’s support, stating, “Mahi Bhai has been an inspiration for all of us at Garuda Aerospace. His encouragement and unwavering support enthuses each one of us to always deliver to the best of our ability.”
Jayaprakash, who has won several medals, including an Asian Gold medal for India in international swimming events, added, “Mahi Bhai is an epitome of a rural youth success story, and both agri and consumer drones resonate with our target audience. His star power has helped Garuda reach the deepest pockets of India.”
Conclusion
MS Dhoni’s increased investment and continued support as a brand ambassador for Garuda Aerospace underscore the startup’s growth potential and ambitious plans. As the company prepares for an IPO and focuses on global expansion, Dhoni’s association is expected to play a crucial role in propelling Garuda Aerospace to new heights in the rapidly evolving drone industry.
