Chennai: Garuda Aerospace has signed an MOU with the Tamil Nadu Industrial Development Corporation Limited (TIDCO) at the Tamil Nadu Investment Conclave 2022 in the presence of Honorable Chief Minister of Tamil Nadu, M.K. Stalin. The MOU highlights the investments which Garuda has made in the sector and re-iterates its commitment to the defence sector.
“After the Honourable Prime Minister, Shri Narendra Modi launched Garuda’s 100 Drones across 100 locations in India, we have been receiving a lot of interest from the Army, Airforce, CRPF, CISF, BSF and we have started designing drones keeping in mind our national security threats. We firmly believe that drones equipped with diverse payloads can support our forces in the borders to keep our Nation safe” said Agnishwar Jayaprakash, Founder and CEO, Garuda Aerospace.
“Over the past 5 years, Garuda Aerospace has cemented dominance in the agricultural, commercial and industrial drone segment. However, this partnership with TIDCO which involves joint development of a drone manufacturing facility focused on the defence sector aims to create a massive impact and create over 5000 jobs for youth in Tamil Nadu alone” said a TIDCO official.
Interestingly, TIDCO (Tamil Nadu Industrial Development Corporation) is the nodal agency for the Tamil Nadu defence corridor and this strategic partnership with India’s leading drone start-up Garuda Aerospace seems to be very promising. “The future of warfare is drones and Garuda Aerospace is attracting global technology partners post our recent funding round to speed up our defence aspirations” concluded Agnishwar Jayaprakash.
Recently, Garuda Aerospace commenced its $30 million Series A Round at $250 million Valuation and former Indian cricket team captain MS Dhoni invested into the company while also becoming Garuda’s brand ambassador.