Drone manufacturer, Garuda Aerospace plans to expand with new retail and mobile outlets
By siliconindia | Tuesday, 07 November 2023, 17:52 IST
Cricketer M.S. Dhoni-backed drone maker Garuda Aerospace will launch its first of the 400 retail outlets here post-Diwali and also have drone stores on wheels across the country. "The company will own the first outlet in Chennai. This will be the first drone manufacturers’ own retail outlet in the country. The remaining outlets will be owned by our dealers, distributors, and franchisees," Founder-CEO Agnishwar Jayaprakash. The plan is to have about 400 retail outlets by the end of this fiscal.
"That apart, we plan to have about 400 drone stores on wheels across the country. Drone loaded on the vans will move across the villages and towns to give the youngsters a feel for the flying machines". Jayaprakash also said that the company closed last year with a turnover of Rs 47 crore and is on track to achieve a revenue of Rs 120 crore this fiscal.
Garuda Aerospace has an order book of 400 drones from Indian Farmers Fertiliser Cooperative Ltd (IFFCO) and about 10,000 pre-bookings from various dealers. The company had recently raised Rs 25 crore from investors for working capital and other purposes. Jayprakash said the company makes its drones in Chennai, Mysore, in partnership with BEML Ltd, and in Prayagraj, partnering with Hindustan Aeronautics Ltd.
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