An Indian drone maker has raised $100 million from international investors in what has been described as the largest venture funding for a defence start-up in the South Asian nation.
The record funding for Raphe mPhibr comes one month after India used a large number of drones against Pakistan in the biggest air battle since World War II in terms of the number of aircraft involved.
The nuclear-armed neighbours used unmanned aerial vehicles (UAVs) at scale against each other for the first time during the four days of clashes in May.
UAVs have become a weapon of choice in modern warfare. Their use lets countries demonstrate aerial prowess and manage domestic expectations without risking the lives of pilots or the loss of much more expensive fighter jets.
News agency Reuters reported last month that India plans to invest heavily in the local drone-making industry. New Delhi could spend as much as $470 million on buying UAVs over the next 12 to 24 months, roughly three times the pre-conflict levels, it said.
Analysts expect the nuclear-armed neighbours will resort to increased use of UAVs going forward because small-scale drone attacks can strike targets without provoking uncontrollable escalation.
Last month, India approved roughly $4.6 billion in emergency military procurement funds. The Indian military plans to use some of that additional funding on combat and surveillance drones.
Pakistan relied on Chinese-made J-10Cs, which it inducted in 2022, to ward off Indian aerial attacks in May. But the Pakistan Air Force is now pushing to acquire more UAVs as it seeks to avoid risking its high-end aircraft.
Pakistan says it has downed five Indian warplanes in Indian airspace, including the Rafale, in what analysts described as the first confirmed combat loss of the sophisticated French-made aircraft.
Pakistan is likely to build on existing relationships to intensify collaboration with China and Türkiye to advance domestic drone research and production capabilities.
Islamabad is relying on a collaboration between Pakistan's National Aerospace Science and Technology Park and Turkish defence contractor Baykar that makes the YIHA-III drone.
Raphe mPhibr, the Indian drone maker founded in 2017, had earlier raised $45 million to make drones for Indian military and paramilitary forces. Those drones can fly up to 200 km with payloads of up to 100 kg.
