Former Indian cricket captain and business icon Mahendra Singh Dhoni has made another strategic investment. This time, he has placed his bet on Garuda Aerospace, a drone manufacturing company. Dhoni has invested ₹4 crore in the company, just as it prepares to launch its Initial Public Offering (IPO).
While the exact investment amount hasn’t been officially disclosed, insider sources suggest that Dhoni has increased his stake in the company to 1.1%. This isn’t Dhoni’s first investment in Garuda Aerospace; he had previously invested in the startup, demonstrating his continued belief in its potential.
Why Did Dhoni Invest in Garuda Aerospace?
Dhoni’s interest in Garuda Aerospace goes beyond just business. In a recent statement, Dhoni expressed his pride in being associated with a company that is expanding its global presence. He highlighted the positive impact drones are having across various sectors, including agriculture, defense, industry, and consumer services.
As a seasoned businessman, Dhoni likely recognizes the growth potential in the drone industry, which is rapidly expanding across India and internationally. With increasing applications in quick commerce, agriculture, and even medicine delivery, drones are proving to be the technology of the future.
Garuda Aerospace’s Growth and Market Share
Founded in 2015 by Agnishwar Jayaprakash, Garuda Aerospace has quickly risen to prominence. Today, the company commands an impressive 50% market share in India’s drone sector. It’s also the first drone startup to receive certification from the Directorate General of Civil Aviation (DGCA) for both manufacturing and training.
What started as a small team of five has now grown into a workforce of over 200 people, manufacturing 30 different types of drones and offering 50 services. Garuda Aerospace’s drones are particularly popular in the agriculture and consumer sectors. With plans to expand globally, the company is set to become a major player in the drone industry.
The Expanding Drone Market
The drone market in India and worldwide is experiencing rapid growth. Drones are becoming essential tools in various sectors, including:
- Agriculture: Drones are used for crop monitoring, pesticide spraying, and yield estimation.
- Logistics: Drones are being used for fast delivery services in e-commerce and logistics, cutting down delivery times significantly. For instance, Skye Air, a Gurugram-based startup, is using drones to deliver products in as little as 5 minutes.
- Healthcare: In the near future, drones may be used to deliver medicines and other essential supplies to remote areas.
With such promising developments, investing in the drone industry makes sense for someone like Dhoni, who has a history of backing innovative startups.
Dhoni’s Expanding Business Portfolio
Apart from his cricket career and drone investments, Dhoni has diversified his portfolio across multiple industries. He is the founder of the popular clothing brand Seven and owns a mid-range hotel named Mahi Residency in Ranchi, along with a property in Bengaluru. Dhoni also owns a chain of gyms called ‘Dhoni Sportsfit’ and runs a global school in his hometown.
Even though he continues to play in the Indian Premier League (IPL), Dhoni’s income streams are diversified, spanning businesses, endorsements, and real estate. According to reports, his net worth now exceeds ₹1,000 crore, thanks to his smart investments and business acumen.
