Synopsis
Indian firms Magellanic Cloud and Rayonix Tech are partnering to build drones in India. This joint venture, valued at Rs 100 crore, will collaborate with Israel's Xtend. The initiative aims to meet India's increasing demand for advanced unmanned aerial vehicles. Drone sets are expected to be ready within four to six months, boosting the nation's defence capabilities.Listen to this article in summarized format
The joint venture will make drones (unmanned aerial vehicles) in partnership with Israel-based AI-powered robotics, UAV and software systems company Xtend.
"This joint venture (JV) marks a defining moment in Magellanic Cloud's mission to revolutionise the defence ecosystem.
"By integrating Xtend's globally battle-proven platforms, we are delivering more than just a drone; we are providing a sophisticated digital nervous system for modern warfare," Magellanic Cloud Global CEO and MD, Joseph Sudheer Thumma, said in a statement.
The company said that the JV is valued at approximately USD 11 million (around Rs 100 crore).
The JV will establish localised manufacturing, testing and distribution capabilities for UAV systems in India, to cater to the growing demand for advanced UAV systems from India's defence ecosystem.
Thumma said that the drone sets will be ready within the next 4-6 months.
