RattanIndia Makes Strategic Investment In Silicon Valley-based Drone Company

- Advertisement -
- Advertisement -

RattanIndia Enterprises’ investment in the drone space comes in the backdrop of the central government opening up the industry to the market

Marking its presence in the drone industry, RattanIndia Enterprises has announced that it will make a strategic investment in the US-based urban drone logistics platform Matternet.

- Advertisement -

With this investment, RattanIndia has forayed into the deep-tech Unmanned Aerial Vehicle (UAV) industry, which it believes is set to transform logistics ecosystems worldwide.

Founded in 2011 by Andreas Raptopoulos, the Silicon Valley-based Matternet counts Boeing, Mercedes-Benz, McKesson Ventures and Sony as investors.

It provides technology for on-demand, autonomous aerial delivery in urban environments and has garnered more revenue to date than any other UAV company from its operations in the US and Switzerland, according to a release.

Matternet currently provides its platform-as-a-service to companies in the fields of healthcare and logistics, RattanIndia said, adding together with its partners, Swiss Post, UPS and Japan Airlines (JAL), it serves numerous hospitals and pharmacy chains such as CVS, WakeMed Hospital, Wake Forest Baptist Health, EOC Lugano and University of Zurich Hospital.

Anjali Rattan, Business Chairperson, RattanIndia Enterprises, said, “We are highly impressed with the team and credentials of Matternet. The partnership with Matternet is in line with our philosophy of investing in new-age cleantech companies with tremendous growth potential. We share the government’s vision of drones as a future-tech, which opens new vistas of business opportunities”.

RattanIndia Enterprises’ investment in the drone space comes in the backdrop of the central government opening up the industry to the market.

Last month, the government released Draft Drone Rules, which are intended to ensure the ease of using drones in India based on “trust, self-certification and non-intrusive monitoring”.

The government is also planning to establish “drone corridors” for cargo deliveries and a drone promotion council to facilitate a drone-friendly regulatory regime.

“We are witnessing an inflexion point in urban drone delivery and are excited to partner with RattanIndia to explore opportunities in India.

“India is a country with numerous densely populated and congested cities, an ideal scenario for Matternet drones to bring greater reach, reliability and speed to healthcare and other everyday needs of the local population, while at the same time decreasing pollution and traffic,” Matternet CEO Andreas Raptopoulos said.

RattanIndia had earlier this month announced that its Board will meet on August 10 to consider and evaluate a proposal for strategic investment in a new-age business in an overseas company.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

DigiKey Expands Portfolio With 3PEAK

0
This collaboration adds amplifiers, interface components, data converters, and more, catering to industries such as communication, industrial, medical, and automotive.  In a strategic move aimed...

“Automotive And Medical Will Adopt More Printed Electronics”

0
The automotive industry is experiencing a revolution. But is this revolution limited to the evolution of powertrains? Salil Musale, MD, Naxona (Astarc Group), chats...

Infineon And Amkor Forge Partnership To Boost Semiconductor Manufacturing In Europe

0
With operations set to commence in the first half of 2025, this alliance represents a significant stride in advancing the region's semiconductor manufacturing resilience...

Buzz

Log9 Materials Partners With Zeta Energy To Innovate Advanced Battery Systems

0
The collaboration presents substantial advantages for both companies. Zeta Energy's sophisticated lithium-sulfur materials could enable Log9 to enhance overall cell performance, opening up new...

Tata, Shell To Deploy EV Charging Stations Across India

0
This partnership between two industry leaders is anticipated to significantly accelerate the advancement of India's electric vehicle (EV) sector into its next stage. Tata Passenger...

Vulcan Energy Begins Lithium Chloride Production In Germany

0
Listed in both Australia and Frankfurt, the company has secured offtake agreements with automakers such as Volkswagen, Stellantis, and Renault. It reported that its...

Important Sectors

Log9 Materials Partners With Zeta Energy To Innovate Advanced Battery Systems

0
The collaboration presents substantial advantages for both companies. Zeta Energy's sophisticated lithium-sulfur materials could enable Log9 to enhance overall cell performance, opening up new...

Tata, Shell To Deploy EV Charging Stations Across India

0
This partnership between two industry leaders is anticipated to significantly accelerate the advancement of India's electric vehicle (EV) sector into its next stage. Tata Passenger...

Vulcan Energy Begins Lithium Chloride Production In Germany

0
Listed in both Australia and Frankfurt, the company has secured offtake agreements with automakers such as Volkswagen, Stellantis, and Renault. It reported that its...

IESA & SEMI Collaborate To Advance India’s Semiconductor Aim

0
In a significant development that bodes well for the nation's semiconductor sector, the India Electronics and Semiconductor Association (IESA) established a strategic partnership with...

Tessolve And NXP Semiconductors Team Up For Connected Cluster

0
This partnership will deliver a flexible, user-friendly platform that enhances the user experience while prioritizing safety and efficiency. Tessolve has announced a strategic collaboration with...

Manufacturing

Log9 Materials Partners With Zeta Energy To Innovate Advanced Battery Systems

0
The collaboration presents substantial advantages for both companies. Zeta Energy's sophisticated lithium-sulfur materials could enable Log9 to enhance overall cell performance, opening up new...

Vulcan Energy Begins Lithium Chloride Production In Germany

0
Listed in both Australia and Frankfurt, the company has secured offtake agreements with automakers such as Volkswagen, Stellantis, and Renault. It reported that its...

Tessolve And NXP Semiconductors Team Up For Connected Cluster

0
This partnership will deliver a flexible, user-friendly platform that enhances the user experience while prioritizing safety and efficiency. Tessolve has announced a strategic collaboration with...

Tesla Starts Making Cars In Germany For India Exports This Year

0
A Tesla team is set to visit India this month to scout locations for a car manufacturing plant, with an estimated investment of around...
Sona Comstar

Sona Comstar Earns Second PLI Certification For Electric Two-Wheeler Hub Motor

0
In 2021, the government launched a five-year output-linked incentive scheme with a budget of Rs 25,938 crore to enhance local production of advanced automotive...