Chennai-based drone technology company Garuda Aerospace has raised around $10 million (about ₹96 crore) in a pre-IPO funding round at a pre-money valuation of $320 million, according to people aware of the transaction, reported The Economic Times on 7 October 2026.
The round was led by the Motherson family office and Dubai-based Aditum Investment Group. Garuda Aerospace is looking to go public in the first quarter of 2027, the report said, citing people in the know.
The drone maker filed its draft IPO papers through the confidential route in April and received the market regulator's observations on 5 August 2026, clearing the path to proceed with the IPO process. A confidential filing lets the company test investor appetite without the usual public scrutiny of a standard DRHP.
Pre-IPO rounds have become the standard bridge for late-stage Indian startups heading to the public markets — bringing in family offices and crossover investors who then anchor the eventual listing. At a $320 million pre-money valuation, Garuda is positioning itself as one of India's flagship deeptech listings of 2027.
Why it matters for founders
The confidential-route DRHP is now the playbook for deeptech IPOs: file quietly, clear SEBI observations, raise a pre-IPO round at a premium valuation. If you're a late-stage founder eyeing 2027, family offices and Gulf funds are the anchors buying pre-IPO paper today.
Find these funders and apply in one click — browse family offices and 4,000+ more investors at /investors, then apply with your kit at /apply-kit.