His four-year-old drone start-up Garuda Aerospace was about to close its doors in 2020 when Coronavirus infected the global population and economy. Agnishwar, however, believed that his Garuda, the vehicle of the Hindu God Lord Vishnu, could not be destroyed. Curiously, the same Coronavirus saved his business by sanitizing the buildings to prevent the virus from spreading.
In 2020, the CEO of drone start-up Garuda Aerospace, Agnishwar Jayaprakash, faced the decision to shut down his company due to economic challenges. However, the emergence of the coronavirus pandemic unexpectedly saved his business.
Agnishwar saw an opportunity in using drones to sanitize buildings and prevent the spread of the virus. Despite initial challenges in getting orders, the company eventually received contracts from various state governments for sanitization projects.
Agnishwar, a former international swimmer, navigated through obstacles such as lockdown restrictions and inter-state travel permissions to ensure the success of his business.
The idea for using drones for sanitization came from Agnishwar's previous experience in using drones for unique purposes, such as showering chocolates on a reality show. Garuda Aerospace's innovative approach and adaptability during the pandemic led to their continued success, showcasing Agnishwar's determination to overcome challenges and keep his business afloat.
Garuda received sanitization orders from Smart Cities and other regions and requests from MPs and MLAs for drone-based services in their constituencies, gaining pan-India recognition.
The locust attack in Uttar Pradesh and Rajasthan led to more business opportunities for Garuda's agricultural drones in 2020. Revenues began to trickle in for the bootstrapped company. Elon Musk liking a tweet by Agnishwar caught the attention of UK-based investor Silver Swan Investments, resulting in a $1 million investment.
Orders for mapping and fault detection started coming in. The company's fortunes drastically turned around From bankruptcy in February 2020 to Rs.15 crore in FY22. Agnishwar married Rithika, daughter of BJP's P.C. Mohan, and invited Prime Minister Modi to inaugurate their factory.
The Garuda Kisan Drone Yatra in 2022, flagged off by Modi, saw 100 drones take off in 100 villages simultaneously. Agnishwar emphasized that he did not use his father-in-law's or granduncle's name for business favors. The central government's liberalization of the drone sector and easier finance options for agricultural drones further supported Garuda's growth.
Garuda signed business deals with Lockheed Martin Canada CDL Systems, Elbit Systems, Thales, HAL, and BEML. They also brought Indian cricket star M.S. Dhoni as a brand ambassador and investor.
In FY23, they raised Rs.20 crore from investors, with a valuation of Rs.800 crore. Turnover went from Rs.47 crore to Rs.110 crore. An IPO is planned for the following year.
Agnishwar chose engineering over a medical seat to focus on swimming. He founded Ignite-India and later Garuda Aerospace. His father is proud of his success, as Agnishwar built a more valuable business than the family's.
His mother is an academic and his brother founded a tech company. His wife handles administration at Garuda. Despite his busy schedule, Agnishwar wishes he had more time for his son, Rudra.
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