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RattanIndia Enterprises forays drone business

Friday, 11 Mar 2022
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RattanIndia Enterprises has entered into the drone business in the country through its wholly-owned subsidiary NeoSky and expects the commercial rollout of products in Q1/2023.

The company has earmarked an initial investment of Rs 100 crore in NeoSky, which will design, manufacture and sell consumer micro drones across India. The company has committed a cumulative investment of Rs 3,000 crore in four businesses.

RattanIndia Enterprises has set-up an electric vehicle subsidiary under Revolt Intellicorp, fintech business under Bankse, online retail under Cocoblu and drone business under NeoSky.

The company aims to make and sell drones that will be widely used in weddings, sports coverage, broadcasting, amateur travel vlogs, surveillance and warehouse management.

Gradually, it will explore multiple business models which will include enterprise (mining, agriculture, survey, surveillance), delivery (medical, cargo, passenger), DraaS (drone as a service), and allied software.


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