Garuda Aerospace, the drone technology firm backed by cricketer M.S. Dhoni, has officially entered the Sri Lankan market, aiming to transform agricultural practices while also exploring opportunities in homeland security and industrial applications.
The announcement came on Monday, marking a significant milestone in the company's global expansion strategy.
Garuda Aerospace's foray into Sri Lanka is driven by the country's strategic location and its drone-friendly regulatory environment, which the company intends to leverage for its growth.
As part of its ambitious plans, Garuda aims to establish a presence in at least 50 countries within the next few years, allocating USD 10 million from its revenue of over Rs 100 crore generated in FY24 to support this international growth.
"This expansion into Sri Lanka isn't merely about growth; it's about unlocking the full potential of drone technology to create substantial impacts across various sectors," said Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace.
He added that Sri Lanka's diverse landscape provides an ideal platform to demonstrate the tangible benefits of their innovative solutions, ranging from agriculture to infrastructure.
Garuda Aerospace, known for producing small and medium-sized drones, partnered with Greek manufacturer Spirit Aeronautical Systems earlier this year and signed a pact with French aerospace giant Thales to foster growth and innovation in India's drone sector. Spirit Aeronautical specializes in rotary and fixed-wing weaponized drones.
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