Magellanic Cloud, Rayonix Tech Establish Joint Venture to Manufacture Drones in India
Magellanic Cloud and Rayonix Tech Announce Rs 100 Crore Joint Venture for UAV Manufacturing in India
Surveillance technology firm Magellanic Cloud on Tuesday announced a Rs 100 crore joint venture with indigenous defence technology firm Rayonix Tech to manufacture unmanned aerial vehicles (UAVs) in India. This strategic partnership aims to cater to the rising demand for advanced drone technologies within India's defence ecosystem.
The venture will develop drones in partnership with Israel-based Xtend, which specialises in AI-powered robotics, UAVs and software systems. Magellanic Cloud will integrate Xtend's globally battle-proven platforms to deliver sophisticated digital nervous systems for modern warfare.
Valued at around $11 million (Rs 100 crore), the joint venture will focus on building localised manufacturing, testing and distribution capabilities for UAV systems in India. The initiative is expected to revolutionise the defence ecosystem, as stated by Joseph Sudheer Thumma, Global CEO and Managing Director of Magellanic Cloud.
Key details of the joint venture are as follows:
| Partner | Location | Specialisation |
|---|---|---|
| Magellanic Cloud | India | Surveillance technology |
| Rayonix Tech | India | Defence technology |
| Xtend | Israel | AI-powered robotics and UAVs |
The first set of drones under the partnership is expected to be ready within four to six months. This joint venture marks a significant milestone in Magellanic Cloud's mission to revolutionise the defence ecosystem in India.
Investor Takeaway
Investors should monitor the development of the joint venture and its potential impact on the Indian drone manufacturing market.
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