Garuda Aerospace: Charting a New Course with Upcoming IPO


Garuda Aerospace, an Indian drone startup, is planning to go public with an Initial Public Offering (IPO) in the next 6-8 months, potentially marking the largest drone IPO in India. The company’s founder and CEO, Agnishwar Jayaprakash, announced this at TechSparks 2023 in Delhi. This follows the trend of other drone companies that have recently had successful IPOs. Garuda Aerospace is supported by high-profile backers, including former Indian cricket captain Mahendra Singh Dhoni. As of October, the company had raised Rs 25 crore in a bridge round of funding and $22 million in a Series A funding round led by SphitiCap in February, bringing its total funding to $27.3 million​​​​.

Financially, Garuda Aerospace has shown significant growth. In FY22, it achieved a 7.2X surge in operating revenue, reaching Rs 15.31 crore. Continuing this trajectory, it reported revenue growth of over 200% in FY23, amounting to Rs 46.8 crore. The company also recorded profits of Rs 3.9 crore in FY23, a 7.4% increase from Rs 3.63 crore in FY22. Looking forward, Garuda plans to further escalate its revenue to Rs 400 crore in FY24​​.

Garuda Aerospace’s business model revolves around a drone-as-a-service (DaaS) framework. They design, manufacture, and customize drones for various applications such as deliveries, disaster management, and agriculture. The company has developed 30 types of drones and offers 50 different services. With a strong client base of over 750, including prominent corporations like TATA, Godrej, and Reliance, Garuda is also expanding its global presence. The company aims to sell 25,000 drones in the next 18 months and export 10,000 drones to about 100 countries within the next 15 months​​.

The drone industry’s growth has been fueled by increased corporate interest in using drones for efficiency and cost reduction, as well as rising demand in the defense sector. Governments are also recognizing the potential of drones in various sectors, providing additional impetus for companies like Garuda Aerospace. With a fleet of 400 drones and a presence in 84 cities, Garuda Aerospace provides a wide range of drone-based solutions, including sanitization, agricultural spraying, and surveillance​​.

Share:

MORE STORIES

## Navigating the AI Revolution: 5 Trending Google Ads Topics for Marketers As Google Ads continues its rapid evolution, staying ahead of the curve is paramount for digital marketers. The platform’s increasing reliance on artificial intelligence, shifting privacy landscapes, and the introduction of new campaign types are creating a fresh set of challenges and opportunities. Here are five top trending blog topics that delve into the most critical areas of Google Ads today. ### 1. The Rise of the Machines: Mastering AI-Powered Campaign Types Google is unequivocally betting on AI to drive the future of its advertising platform. A key area of focus for marketers is understanding and mastering AI-driven campaign types like Performance Max and Demand Gen. These campaigns automate targeting, bidding, and ad creation across Google’s entire inventory. A deep dive into strategies for providing the right inputs to these “black box” models, interpreting their performance, and understanding how to guide the AI for optimal results is a crucial topic for advertisers looking to succeed in this new era. ### 2. Beyond the Click: Navigating the New Landscape of Measurement and Attribution With the impending deprecation of third-party cookies and a growing emphasis on user privacy, the way advertisers measure success is undergoing a fundamental shift. This has propelled topics like enhanced conversions, consent mode, and the integration of first-party data to the forefront. Marketers are actively seeking guidance on how to implement these privacy-centric measurement solutions to gain a more accurate and holistic view of their campaign performance in a world without granular user tracking. ### 3. Creative is the New Targeting: Leveraging AI for Compelling Ad Experiences In an automated world, the creative has become a key differentiator. Google is investing heavily in AI-powered tools that can generate and optimize ad copy, images, and videos. Blog posts that explore how to effectively use these generative AI features to create a high volume of diverse and engaging ad creatives are gaining significant traction. This includes best practices for providing creative inputs, A/B testing AI-generated assets, and ensuring brand consistency across automated campaigns. ### 4. The Evolution of Search: Adapting to a More Conversational and Visual SERP The traditional keyword-based search is evolving. Users are increasingly employing longer, more conversational queries, and Google is responding with a more visual and AI-driven search engine results page (SERP). This shift requires a re-evaluation of traditional keyword research and bidding strategies. Trending discussions revolve around how to adapt to this new reality, including the role of broad match keywords, the importance of high-quality creative in visual search formats, and strategies for capturing intent in a more conversational search landscape. ### 5. Future-Proofing Your Strategy: The Growing Importance of a Full-Funnel Approach As automation takes over many of the manual levers within Google Ads, the focus is shifting towards a more strategic, full-funnel marketing approach. Advertisers are looking for insights on how to effectively use different Google Ads campaign types to guide users through the entire customer journey, from initial awareness to final conversion and retention. This includes discussions on how to structure campaigns to complement each other, allocate budgets across the funnel, and measure the impact of upper-funnel activities on bottom-line results.

Google Ads is in the midst of a quiet revolution—one driven by artificial intelligence, privacy-first regulations, and a rapidly changing search landscape. For digital marketers,

Send Us A Message