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.
Homegrown drone company Garuda Aerospace, has publicised that the Directorate General of Civil Aviation (DGCA) has granted Type Certification for the Kisan or farmer drones. Additionally, the drone developer has claimed to have 5,000 drones on order.
Garuda Aerospace claims that the DGC Type Certification is given based on the drones’ quality inspection and is given following a rigorous testing procedure for unmanned aerial vehicles.
The green flag is given Under the Drone Rules, the Indian government introduced the Type certification in August 2021.
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Garuda Kisan Drone, which costs Rs. 4.50 lakh, is now qualified for a Rs. 10 lakh unsecured loan from Agri Infrastructure Fund at 5% and a 50–100% government subsidy following the Type Certification for the GA–AG model.
“We are powered and blessed with strong demands of manufacturing 5,000 drones in the next five months catering to many opportunities. With receiving approvals we are certain that the necessary utilisation of skills with significant sector growth will be seen,” Agnishwar Jayaprakash, Founder and CEO, Garuda Aerospace said.
The company is also a DGCA authorised Remote Pilot Training Organisation (RPTO) to train people to operate drones.
(inputs from IANS)
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