Rattan India Enterprises has forayed into the drone business in the country through its wholly-owned subsidiary Nevsky and expects the commercial rollout of products in the first quarter of 2023
Rattan India Enterprises has forayed into the drone business in the country through its wholly-owned subsidiary Nevsky and expects the commercial rollout of products in the first quarter of 2023, a senior company official said on Thursday.
The company has earmarked an initial investment of Rs 100 crore in Nevsky, which will design, manufacture and sell consumer micro drones across India, Rattan India Enterprises Business Chairperson Anjali Rattan Na shier told PTI.
She said Rattan India will invest "easily in the coming future around Rs 100 crore" in the drone business initially.
"We have committed Rs 3,000 crore in Rattan India Enterprises in total for investment in four businesses," Na shier added.
Rattan India Enterprises is building up new age businesses. It has set up an electric vehicle subsidiary under Revolt Intel Core, fintech business under Banks, online retail under Cool and drone business under Nevsky.
Rattan India Enterprises Chairman Rajiv Rattan said the company has started developing prototypes of the drones in-house.
"We as promoters are giving money to Rattan India Enterprises for making investments," Rattan said.
He said the company is looking to capitalize on the opportunity that has opened up following the ban on import of drones in the country.
The company aims to make and sell drones that will be widely used in weddings, sports coverage, broadcasting, amateur travel vlogs, surveillance and warehouse management.
Gradually, it will explore multiple business models which will include enterprise (mining, agriculture, survey, surveillance), delivery (medical, cargo, passenger), Drays (drone as a service), and allied software.
In August, Rattan India Group had made a strategic investment in Silicon Valley-based on-demand drone delivery company 'Matter net'.
Matter net presently has operations in the US, Germany, Switzerland, Japan and Abu Dhabi and has completed more than 30,000 delivery flights successfully.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
"We as promoters are giving money to Rattan India Enterprises for making investments," Rattan said.
He said the company is looking to capitalize on the opportunity that has opened up following the ban on import of drones in the country.
The company aims to make and sell drones that will be widely used in weddings, sports coverage, broadcasting, amateur travel vlogs, surveillance and warehouse management.
Gradually, it will explore multiple business models which will include enterprise (mining, agriculture, survey, surveillance), delivery (medical, cargo, passenger), Drays (drone as a service), and allied software.
In August, Rattan India Group had made a strategic investment in Silicon Valley-based on-demand drone delivery company 'Matter net'.
Matter net presently has operations in the US, Germany, Switzerland, Japan and Abu Dhabi and has completed more than 30,000 delivery flights successfully.
The company aims to make and sell drones that will be widely used in weddings, sports coverage, broadcasting, amateur travel vlogs, surveillance and warehouse management.
Gradually, it will explore multiple business models which will include enterprise (mining, agriculture, survey, surveillance), delivery (medical, cargo, passenger), Drays (drone as a service), and allied software.
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