New Delhi: Indian conglomerate RattanIndia Enterprises Ltd., which has interests in power generation, transmission, electric mobility, consumer finance and renewable energy, on Tuesday said that it will make a strategic investment in US-based urban drone logistics platform Matternet.
The corporation didn’t reveal further details.
With this investment, REL has forayed into the deep-tech Unmanned Aerial Vehicle (UAV) industry, which is set to transform logistics ecosystems worldwide, the conglomerate said in a statement.
Founded in 2011 by entrepreneur Andreas Raptopoulos, Silicon Valley-based Matternet, provides technology for on-demand, autonomous aerial delivery for healthcare and logistics sectors and has corporations like Boeing, Mercedes-Benz, McKesson Ventures and Sony as investors.
“The company (Matternet) is pioneering a paradigm shift in transportation and logistics by using emission-free drone technology to deliver items up to 2 kgs with precision over fixed routes over distances of 20 kms in a few minutes. These flights are Beyond Visual Line of Sight (BVLOS) and Flight over People (FLOPS),” RattanIndia said in the statement.
“Globally, 80% of e-commerce parcels are under 2kgs, creating a large addressable market for Matternet UAV logistics platform,” it said adding that the precision of Matternet’s drone technology will prove to be extremely useful in countries like India, which have large urban agglomeration and ultra-high population density and congestion, making healthcare and e-commerce delivery by road time consuming and unreliable.
RattanIndia’s investment in Matternet comes less than a month after the ministry of civil aviation (MoCA) released the updated draft Drone Rules, 2021 for public consultation, which will soon replace the UAS (unmanned aircraft system) Rules 2021. The updated Drones Rules 2021 aims at making it easier for corporations to seek permissions for drone operations.
“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,” said Anjali Rattan, Business Chairperson at RattanIndia Enterprises.
“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,” added Andreas Raptopoulos, chief executive of Matternet.
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