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Tuesday, November 29, 2022

Adani inks deal to acquire 50% stake in drone maker General Aeronautics

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Adani Enterprises, founded by Gautam Adani, will acquire a 50% stake in General Aeronautics, a Bengaluru-based drone manufacturer.

Adani intends to use its military drone and artificial intelligence/machine learning skills, as well as collaborate with General Aeronautics, to develop agricultural solutions.

Adani Enterprises, founded by Gautam Adani, will acquire a 50% stake in General Aeronautics, a Bengaluru-based drone manufacturer. The deal’s monetary value was not disclosed.

M&A activity in the futuristic drone sector is increasing.

Rattan India Enterprises recently acquired a 60% share in Throttle Aerospace Systems, which is likewise located in Bengaluru and is active in the drone market. It has previously invested in Matternet, a drone logistics network located in the United States.

Adani intends to use its military drone and artificial intelligence/machine learning skills, as well as collaborate with General Aeronautics, to develop agricultural solutions.

The firm, which incubates new companies for the Ahmedabad-based group — India’s third-largest conglomerate by market capitalization — has signed the contract in General Aeronautics through its 100 percent subsidiary Adani Defence Systems and Technologies. According to their website, Abhishek Burman, Kota Harinarayana, and Anutosh Moitra created General Aeronautics in 2016.

It has completed a Rs 6.5-crore funding led by Mela Ventures in January 2021.

According to startup trackerTracxn, the firm has raised a total of $2.2 million as of January 2021, resulting in a $8.4 million value. Reliance Industries purchased a controlling stake in Asteria, a full-stack drone technology firm, in 2019.

Similarly, Tata Advanced Systems purchased a controlling stake in Aurora Integrated Systems, a Bengaluru-based maker of unmanned aerial systems.

Piramal Enterprisestoo has invested in the Israeli firm Bluebird Aero Systems.

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