Capital IQ, an investment consultancy firm, has announced its strategic acquisition of Karman Drones, which specialises in indigenous designs for defence and civil purposes, at a valuation of ₹75 crore.
With this partnership, Capital IQ aims to accelerate the company’s growth, drive expansion and IPO in the coming years.
Karman Drones, a drone design and manufacturing company, is developing innovative, indigenous designs for defence and civil applications. It has successfully developed four drones: 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 currently working on developing Kamikaze drones with VTOL and recovery capabilities. The company has partnerships with the government defence sector and civil market, and is aggressively pursuing new developments, export opportunities, and expansion into the space industry.
“Capital IQ’s acquisition will accelerate Karman Drones’ mission to revolutionise 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.”
In the coming years, the company aims to expand its product portfolio and strengthen its presence in the defence and civil sectors in and outside India. With a focus on export-led growth, the company is looking at developing innovative solutions for civilian applications, including disaster management, environmental monitoring, and infrastructure development.