RattanIndia Enterprises acquires 60% stake in drone company Throttle Aerospace Systems
RattanIndia Enterprises, a diversified corporation, announced on 27th May 2022 that it had acquired a 60% share in drone company Throttle Aerospace Systems Pvt Ltd. (TAS).
RattanIndia Enterprises, a diversified corporation, announced on 27th May 2022 that it had acquired a 60% share in drone company Throttle Aerospace Systems Pvt Ltd. (TAS). RattanIndia Enterprises said that the investment in TAS was made through NeoSky India Ltd (NeoSky), a wholly-owned subsidiary. However, the financial specifics of the purchase were not disclosed by the corporation.
Founded in 2016, led by Nagendran Kandasamy, an ex-Boeing, aeronautical industry veteran, TAS has been approved by the Directorate General Civil Aviation (DGCA) and Ministry of Defence (MoD) to manufacture civil and military-grade drones, it added.
According to RattanIndia Enterprises Business Chairperson Anjali Rattan Nashier, Drones will alter how commerce is done in India over the next few years. Compared to other regions of the world, India has proven that it absorbs technology quite rapidly.
Nashier added, "At NeoSky, we want drones to tackle some of the most pressing problems that consumers and businesses confront on a daily basis."
According to NeoSky, the acquisition would allow the firm to supply customers with full 360-degree drone solutions, including drones as a product (DAAP – drone hardware), drone as a service (DAAS – drone service solutions), and software as a service (SAAS – drone software).
