Former cricketer MS Dhoni has recently increased his investment in Garuda Aerospace, a Chennai-based drone startup, reaffirming his commitment as both a brand ambassador and stakeholder.
This announcement was made on October 4, 2024, coinciding with Dhoni’s ongoing association with the company, which began in 2022 when Prime Minister Narendra Modi inaugurated 100 drones at various locations across India.
Investment Details
Dhoni has increased his investment in Garuda Aerospace by an additional ₹4 crore as the company prepares for its initial public offering (IPO).
Garuda Aerospace is planning to list on the stock exchanges by the end of 2024. Currently valued at $250 million, the startup aims to finish the financial year 2022-23 with a revenue of ₹100 crore.
Dhoni’s involvement is not just financial; he plays a major role in promoting the brand and its vision of making India a global hub for drones by 2030.
Company Vision and Achievements
Garuda Aerospace is focused on expanding its presence in multiple sectors, including agriculture, defense, and consumer drones.
The startup has already made notable achievements:
- It secured its first order from the Indian Space Research Organisation (ISRO) for advanced quadcopter drones, used for delivering medicines and food supplies.
- It launched the Droni, a user-friendly consumer drone with a 48 MP camera and a flight time of up to 60 minutes.
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Leadership Remarks
Agnishwar Jayaprakash, the founder and CEO of Garuda Aerospace, expressed his gratitude for Dhoni’s ongoing support, saying that it motivates the team to push for excellence.
Dhoni’s role is seen as crucial to advancing the company’s mission.
In summary, MS Dhoni’s increased investment in Garuda Aerospace strengthens his financial stake and highlights his key role in supporting the company’s innovative drone technologies and ambitious growth plans, including its upcoming IPO.
