MS Dhoni Increases Investment in Drone Startup Garuda Aerospace Ahead of IPO MS Dhoni boosts his stake in Garuda Aerospace to 1.1% with a fresh INR 4 crore investment, supporting the drone startup's upcoming IPO and global expansion in agriculture and defense sectors.
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Former Indian cricket captain MS Dhoni has amplified his investment in the drone startup Garuda Aerospace, which is gearing up for an initial public offering (IPO). While the exact investment amount remains undisclosed, sources indicate that Dhoni has invested INR 4 crore, increasing his stake in the company to 1.1%.
"I am proud to be part of Garuda's journey as they expand globally and make a positive impact on agriculture, defense, Industry 4.0, and the consumer drone sector," Dhoni stated.
Agnishwar Jayaprakash, the Founder and CEO of Garuda Aerospace, expressed his admiration for Dhoni, saying, "Mahi Bhai has inspired all of us at Garuda Aerospace. His encouragement and unwavering support motivate each of us to deliver our best."
Jayaprakash further added, "From being a fan to a founder, I have always admired MS Dhoni. His influence on emerging drone technology is immense. Mahi Bhai represents a successful story for rural youth, and both agricultural and consumer drones resonate well with our target market. His star power has enabled Garuda to reach the farthest corners of India."
Established in 2015, Garuda Aerospace made history as the first drone startup to receive dual certifications from the Directorate General of Civil Aviation (DGCA) for both manufacturing and training. With a dominant 50% market share, the company has positioned itself as a leader in agricultural and consumer drones, and it is actively pursuing global expansion.
Garuda has forged significant international partnerships with firms such as Thales (France), Agrowing (Israel), and Spirit Aeronautics (Greece), focusing on technology transfer and local manufacturing to reduce costs and create job opportunities for Indian youth.
In addition to agricultural applications, Garuda aims to broaden its horizons into defense technology by developing advanced drones for military use.
Having started out as a five-person company in 2015, Garuda Aerospace now employs over 200 people and is the largest drone fleet in India, with over 400 drones and 500 pilots flying in 84 cities. The company offers 50 unique services and produces 30 different kinds of drones.
