Magellanic, Rayonix ink $11 million JV pact for defence drones
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Hyderabad-based Magellanic Cloud and Gurugram’s Rayonix Tech have formed an $11-million joint venture with XTEND to manufacture unmanned aerial vehicles in India.
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The Hindu · The Hindu Bureau
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Hyderabad firm Magellanic Cloud and Gurugram-based defence tech firm Rayonix Tech have entered into an agreement for a $11-million joint venture to manufacture unmanned aerial vehicles in India in partnership with Israeli firm XTEND.The JV will establish localised manufacturing, testing and distribution capabilities for UAV systems in India, to cater to the growing demand for advanced UAV systems from country’s defence ecosystem, Magellanic said on Tuesday announcing the agreement with Rayonix.
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