Capital IQ Acquires Karman Drones

Capital IQ, a boutique investment consultancy firm, said that it acquired Karman Drones, a drone designing company specialising in indigenous designs for defence and civil purposes at a valuation of 75 crore.

By partnering with Karman Drones, Capital IQ aims to accelerate the company's growth, drive expansion, and effectively position it for a successful initial public offering (IPO) in the coming years. With a focus on sustainability and cutting-edge technology, Karman Drones claimed that it has successfully developed four best-in-class drones: Pratham (for the civil sector) and Pratham Pro (for the defence sector), Tethered Drones for 24-hour continuous monitoring, long endurance vertical take-off and landing (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 defence sector and civil market and is aggressively pursuing new developments, export opportunities, and expansion into the space industry, as per the press release.

"Capital IQ's acquisition will accelerate Karman Drones' mission to revolutionise the drone industry," said Pavan Shetty, Co-founder, 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."

Building on this momentum, Karman Drones claimed that it is poised to achieve unprecedented growth and innovation. 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 said that it is committed to developing innovative solutions for civilian applications, including disaster management, environmental monitoring, and infrastructure development.