Capital IQ buys drone maker Karman Drones at a valuation of Rs 75 crore

Capital IQ, a boutique investment consultancy 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 designing startup specialising in Indigenous designs for defence and civil purposes.

The acquisition marks Capital IQ’s entry into the rapidly growing drone sector, aligning with its vision to invest 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 IPO in the coming years.

Karman Drones offerings

Karman Drones is renowned for developing innovative, indigenous designs for defence and civil applications. The company has developed four best-in-class drones, including Pratham (for the civil sector) and Pratham Pro (for the defence 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 defence sector and civil market and is aggressively pursuing new developments, export opportunities, and expansion into the space industry.

Leadership comments

"Capital IQ’s acquisition 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 offerings and our focus on innovation and indigenous designs will continue to drive our success," Shetty added.

"We are thrilled to integrate Karman Drones into the Capital IQ ecosystem, harnessing their pioneering spirit and cutting-edge technology to propel India’s drone revolution," said Rajat Goyal, Founding Partner of Capital IQ.

"This strategic acquisition embodies our commitment to empowering innovative entrepreneurs and fostering sustainable growth in the drone industry. Together, we will unlock new frontiers in defense, surveillance, and beyond, cementing India’s position as a global leader in drone technology," Goyal added.