Capital IQ, a specialized investment consultancy firm, has announced its acquisition of Karman Drones at a valuation of Rs 75 crore (approximately $8.92 million). This strategic move signifies Capital IQ’s entry into the rapidly expanding drone sector, aligning with its goal to invest in sustainable and innovative technologies.
About Karman Drones
Karman Drones is a startup focused on designing drones for both defense and civil purposes. The company is known for its indigenous designs and has developed four advanced drones, including Pratham for civil use, Pratham Pro for defense, Tethered Drones for continuous monitoring, and Long Endurance VTOL Fixed-Wing Drones. Currently, Karman Drones is also working on Kamikaze drones equipped with vertical take-off and landing (VTOL) and recovery capabilities.
With this acquisition, Capital IQ aims to boost Karman Drones’ growth, facilitate its expansion, and prepare the company for a successful initial public offering (IPO) in the coming years. Karman Drones has already formed strong partnerships within the government defense sector and the civil market and is actively exploring new developments, export opportunities, and ventures into the space industry.
Leadership Comments
Pavan Shetty, the Co-founder of Karman Drones, expressed optimism about the acquisition. “Capital IQ’s acquisition will accelerate our mission to revolutionize the drone industry. With their expertise and resources, we will enhance our product offerings while continuing our focus on innovation and indigenous designs,” he stated.
Rajat Goyal, Founding Partner of Capital IQ, also shared his excitement. “We are thrilled to integrate Karman Drones into the Capital IQ ecosystem. Together, we will harness their pioneering spirit and cutting-edge technology to advance India’s drone revolution,” he said. Goyal emphasized that this strategic acquisition represents their commitment to supporting innovative entrepreneurs and promoting sustainable growth in the drone sector.
Capital IQ Karman Drones
The acquisition of Karman Drones by Capital IQ marks a significant step towards establishing India as a global leader in drone technology. By combining resources and expertise, they aim to unlock new opportunities in defense, surveillance, and various other applications.
