Dubai-based Aditum Investment Management has co-led a $10 million pre-IPO funding round for India’s Garuda Aerospace alongside the Motherson family investment group. The round valued the drone technology company at $320 million on a pre-money basis.
Founded in 2015 and headquartered in Chennai, Garuda develops drones for defense, agriculture, surveillance and logistics. It also offers drone-as-a-service solutions and remote pilot training programs.
The round closed in October after Garuda confidentially filed its IPO papers in April and received regulatory comments in August. The company is targeting a public listing in the first quarter of 2027.
According to the announcement, the funding will support AI-driven innovation, local technology development, manufacturing and expansion across defense, infrastructure, logistics, agriculture and other industrial applications.
Aditum was founded in 2018 in the Dubai International Financial Centre and provides conventional and Shariah-compliant investment solutions to clients across the Middle East.
Source: Jawlah
