Defencetech startup IG Defence, formerly known as IG Drones, has successfully raised approximately $5 million (about ₹46.2 Cr) in its ongoing Pre-Series A funding round. The funding comes from investors such as India Accelerator, Finvolve, and several family offices, valuing the company at around ₹420 Cr ($45 Mn).
Founded in 2018 by VSSUT alumni Bodhisattwa Sanghapriya and Om Prakash, IG Defence specializes in developing drones and related technologies for defense and civilian applications. The startup gained prominence for its involvement in supplying drones and services during India’s Operation Sindoor, where it partnered with the Indian government.
Following this operation, IG Defence secured a significant contract with the Indian Army to deliver domestically manufactured VTOL and FPV drones. The company’s revenue witnessed a remarkable 330% year-over-year increase in FY25, reaching ₹22.4 Cr compared to ₹5.17 Cr in FY24. For FY26, IG Defence aims to achieve a revenue milestone of ₹100 Cr, focusing on product enhancement and business expansion.
The startup’s revenue growth primarily stems from defense agreements and collaborations with private sector entities, maintaining a revenue split of 60:40 between government and private clients.
Source: Inc42 Media