Capital IQ, a boutique investment advisory firm, recently announced the strategic acquisition of Karman Drones at a valuation of Rs 75 crore (or around $8.92 million).
Karman Drones is a drone design startup specializing in indigenous designs for civil and defense purposes.
The acquisition marks Capital IQ’s entry into the rapidly growing drone sector, aligning with its vision of investing in sustainable and innovative technologies.
It will allow Capital IQ to accelerate the company’s growth, drive expansion and effectively position it for a successful initial public offering in the coming years.
Karman Drones Offers
Karman Drones is renowned for developing indigenous and innovative designs for civil and defense applications. The company has developed four best-in-class drones including Pratham (for the civil sector) and Pratham Pro (for the defense sector), Tethered Drones for 24-hour continuous monitoring and Long Endurance VTOL Fixed Wing Drones.
The company is now working on developing Kamikaze drones with VTOL and recovery capabilities.
It claims to have established strong partnerships with the government defense sector and the civilian market and is aggressively pursuing new developments, export opportunities and expansion in the space industry.
Leadership Comments
“The acquisition of Capital IQ will accelerate Karman Drones’ mission to revolutionize the drone industry,” said Pavan Shetty, co-founder of Karman Drones.
“With their expertise and resources, we will further enhance our product offering and our focus on innovation and indigenous designs will continue to drive our success,” Shetty added.
“We are delighted to integrate Karman Drones into the Capital IQ ecosystem, leveraging its pioneering spirit and cutting-edge technology to drive the drone revolution in India,” said Rajat Goyal, Founding Partner, Capital IQ.
“This strategic acquisition embodies our commitment to empower innovative entrepreneurs and foster sustainable growth in the drone industry. Together we will unlock new frontiers in defense, surveillance and more, cementing India’s position as a global leader in drone technology” Goyal added.
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