M&A
RattanIndia acquires 60% stake in military drones maker Throttle Aerospace
RattanIndia Enterprises Ltd has acquired a 60% stake in Bengaluru-based drone manufacturing startup Throttle Aerospace Systems. The acquisition was made through NeoSky India Ltd, a wholly-owned subsidiary of RattanIndia engaged in the business of drones. Founded in 2016, Throttle Aerospace claims to be India's first drone manufacturer approved by the Directorate General Civil Aviation (DGCA). It also has a licence from the Ministry of Defence to manufacture military drones. With this acquisition, NeoSky will be able to provide Drones as a Product (DAAP), Drone As a Service (DAAS) and Software as a service (SAAS).
Want to receive such news items in your inbox? Click Here to sign up for a trial.
