MS Dhoni-backed drone startup Garuda Aerospace on Wednesday reportedly raised Rs 100 crore in a Series B funding round led by Venture Catalysts at a valuation of $250 million. It is set to accelerate its run rate in indigenous drone manufacturing and innovation.

The fresh capital puts the startup at the forefront of enhancing its capabilities in drone system manufacturing. The funds will help it expand its manufacturing facility and accelerate the development of a state-of-the-art R&D and testing center to design next-generation defense drones.

The Chennai-based startup, which holds over 20 patents, will earmark a portion of the funds to improve its infrastructure and set up a new design facility.