PE Fund Investments
Drone maker BotLab Dynamics sells 15% stake to Florintree for $2.4 M
Florintree, headed by former Blackstone India executive Mathew Cyriac, has bought a 15% stake in Delhi-based drone maker BotLab Dynamics for about USD 2.4 million. BotLab will use the fresh capital to focus on product development as well as for getting into defence and surveillance applications. The firm also plans to export to other Asian countries and to the Middle East region. Founded in 2016, BotLab Dynamics focuses on swarm technology which enables drones to fly autonomously and simultaneously to do the assigned tasks.
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