Mumbai: Gautam Adani-led Adani Enterprises will buy in 50% general aeronautics, a Bengaluru-based drone manufacturer for an undisclosed amount. M&A activity is on an upward trajectory in the futuristic drone industry. A day earlier, RatanIndia Enterprises bought a 60% stake in Throttle Aerospace Systems, which is also based in Bengaluru and is involved in the drone business. It had previously invested in US-based drone logistics platform Matternet.
Adani plans to work with General Aeronautics to leverage its military drones and artificial intelligence/machine learning capabilities and provide solutions to the agriculture sector. The company, which incubates new businesses for the Ahmedabad-based conglomerate – India’s third largest conglomerate in terms of market cap, has entered into a deal in General Aeronautics through its 100% arm Adani Defense Systems & Technologies.
General Aeronautics, incorporated in 2016, was founded by Abhishek Burman, Kota Harinarayan and Anutosh Moitra, according to its website. In January 2021, it had closed financing of Rs 6.5 crore Mela Ventures, According to Startup Tracker traxnThe company had raised a total of $2.2 million as of January 2021, attracting a valuation of $8.4 million.
In 2019, Reliance Industries acquired majority control of Asteria, a full-stack drone technology company. Similarly, Tata Advanced Systems had acquired a majority stake in Bengaluru-based unmanned air systems manufacturer Aurora Integrated Systems. Piramal Enterprises also invested in an Israeli company, Bluebird Aero Systems.
Adani plans to work with General Aeronautics to leverage its military drones and artificial intelligence/machine learning capabilities and provide solutions to the agriculture sector. The company, which incubates new businesses for the Ahmedabad-based conglomerate – India’s third largest conglomerate in terms of market cap, has entered into a deal in General Aeronautics through its 100% arm Adani Defense Systems & Technologies.
General Aeronautics, incorporated in 2016, was founded by Abhishek Burman, Kota Harinarayan and Anutosh Moitra, according to its website. In January 2021, it had closed financing of Rs 6.5 crore Mela Ventures, According to Startup Tracker traxnThe company had raised a total of $2.2 million as of January 2021, attracting a valuation of $8.4 million.
In 2019, Reliance Industries acquired majority control of Asteria, a full-stack drone technology company. Similarly, Tata Advanced Systems had acquired a majority stake in Bengaluru-based unmanned air systems manufacturer Aurora Integrated Systems. Piramal Enterprises also invested in an Israeli company, Bluebird Aero Systems.