Capital IQ acquires Karman Drones at a valuation of Rs 75 crore

Bengaluru, 3 October: Capital IQ, a boutique investment consultancy firm, said it has acquired Karman Drones, which operates in drone designing space for defense and civil purposes, at a valuation of Rs 75 crore.

This acquisition marks Capital IQ's entry into the rapidly growing drone sector, the company said in a release.

By partnering with Karman Drones, Capital IQ aims to accelerate the company's growth, drive expansion, and effectively position it for a successful IPO in the coming years, the release added.

Karman Drones has developed four best-in-class drones: Pratham (for the civil sector) and Pratham Pro (for the defense sector), Tethered Drones for 24-hour continuous monitoring, Long Endurance VTOL Fixed Wing Drones. Now, Karman is working on developing Kamikaze drones with VTOL and recovery capabilities.

The company has established strong partnerships with the government defense 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 revolutionize 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.," he said.

"We are thrilled to integrate Karman Drones into the Capital IQ ecosystem, harnessing their pioneering spirit and cutting-edge technology to propel India's drone revolution," said Rajat Goyal, Founding Partner of Capital IQ. "This strategic acquisition embodies our commitment to empowering innovative entrepreneurs and fostering sustainable growth in the drone industry. Together, we will unlock new frontiers in defense, surveillance, and beyond, cementing India's position as a global leader in drone technology," he added.

Karman Drones aims to expand its product portfolio and strengthen its presence in the defense and civil sectors in and outside India, the company said.