Indian conglomerate RattanIndia Enterprises Ltd (REL), on Tuesday, announced its plan of making a strategic investment in the US-based urban drone logistics platform Matternet.
While the corporation didn’t reveal further details, it said that this investment has marked the entrance of REL into the deep-tech Unmanned Aerial Vehicle (UAV) industry, which is the future of the logistics ecosystems worldwide.
Matternet, which was founded in 2011 by entrepreneur Andreas Raptopoulos, provides technology for on-demand, autonomous aerial delivery for healthcare and logistics sectors and has corporations like Boeing, Mercedes-Benz, McKesson Ventures and Sony as investors.
“The company (Matternet) is pioneering a paradigm shift in transportation and logistics by using emission-free drone technology to deliver items up to 2 kgs with precision over fixed routes over distances of 20 kms within a few minutes. These flights are Beyond Visual Line of Sight (BVLOS) and Flight Over People (FLOPS),” RattanIndia said in the statement.
“Globally, 80% of e-commerce parcels are under 2kgs, creating a large addressable market for Matternet UAV logistics platform,” it said while highlighting that the precision of Matternet’s drone technology will be huge in countries like India with large urban agglomeration and even larger population density and congestion.
We are highly impressed with the team and credentials of Matternet. The partnership with Matternet is in line with our philosophy of investing in new age cleantech companies with tremendous growth potential.”~ Anjali Rattan, Business Chairperson at RattanIndia Enterprises
India is a country with numerous densely populated and congested cities, an ideal scenario for Matternet drones to bring greater reach, reliability and speed to healthcare and other everyday needs of the local population, while at the same time decreasing pollution and traffic.”~ Andreas Raptopoulos, Chief Executive at Matternet
The investment from RattanIndia’s comes immediately after the Ministry of Civil Aviation (MoCA) released the updated draft Drone Rules, 2021 for public consultation, which will soon replace the UAS (unmanned aircraft system) Rules 2021. The newly updated Drones Rules 2021 makes it easier for corporations to seek permissions for drone operations.