In what were the two major fundraising rounds for Garuda Aerospace funding, it was FundTQ that exclusively advised the drone solutions provider. To this effect, the company raised $22 million in its Series A round from SphitiCap in February 2023. This was then followed by another $3 million raised in October 2023, with leading support coming from Venture Catalysts, WFC, HEM Angels, Peaceful Progress, and SAN.
Launched in 2020, FundTQ is considered to be a disruptive financial product and service platform that is better aligned with the dynamic needs of clients and markets. The firm succeeds at undertaking intensive research and market analysis on behalf of its clients, assisting them in anticipating trends and reaping the benefits of new investing opportunities. This particular expertise came in handy for the investors at Garuda Aerospace to make informed decisions and optimize returns.
The drone industry in India has gradually taken off with advancements in technologies, vast terrains, and the rising economy in the nation. The growing applications of drones in surveillance, logistics, agriculture, and delivery services are increasingly motivating drone startups in India. This trend is driving their pursuit of opportunities in these sectors.
Despite its potential, the drone venture has encountered challenges securing available funding opportunities. FundTQ’s extensive global network facilitates a broad spectrum of investment options and enables seamless cross-border transactions. Its well-equipped finance team provides support in diverse fields. These include valuations, market trends, risk management, investment opportunities, and M&A taxation advisory.
Since its inception in 2020, FundTQ has been instrumental in closing deals for various companies. These include Garuda Aerospace, Nauti Nati, Arata, Yuva Pay, Natilene, EasyERP, and Recibo. FundTQ, as an emerging investment advisory firm, became a critical advisor to Garuda Aerospace. They helped raise funds for projects, expansions, mergers, acquisitions, and other business initiatives.
FundTQ is looking to democratize deal-making in India with its vast network of investors and deep investment landscape. It specializes in seed, pre-Series A to Series A deals and aims to be one of the largest platforms in this niche. Aanchal Malhotra, Founder and CEO of FundTQ, pointed out that their approach is unique. It is quite different from entities like Avendus, EY, Deloitte, and other boutique investment banks. FundTQ, an investment tech-enabled platform, digitizes all critical aspects of deal-making. This includes business valuation, pitch deck creation, and investment modeling—all within a swift 10-minute process, even allowing investor selection. Closing complex deals successfully is due to FundTQ’s comprehensive industry knowledge and connections made through key investor relationships. The focused mentorship provided by FundTQ also plays a crucial role.
Aanchal Malhotra further noted that the future of Garuda Aerospace is bright with this funding. It will help boost its growth strategy to increase the portfolio of products and services. Garuda Aerospace can seize significant market opportunities by focusing on developing drone-based solutions for defense, agriculture, and infrastructure.
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