RattanIndia Enterprises hits upper circuit; heres why!

Matternet’s technology has received approval from government aviation regulators (equivalent to DGCA in India).

RattanIndia Enterprises Ltd recently announced that it will make a strategic investment in the US-based Matternet, the world’s most extensive urban drone logistics platform.  

This investment marks the company’s foray into the deep-tech unmanned aerial vehicle (UAV) industry, which is expected to transform logistics ecosystems worldwide. 

Matternet was founded in 2011 by Andreas Raptopoulos, a global thought leader in the UAV industry. He is also a member of the esteemed World Economic Forum’s Global Drones and Aerial Mobility Council. Matternet is based out of Silicon Valley and enjoys McKesson Ventures, Boeing, Mercedes-Benz and Sony as investors. 

Matternet furnishes best-in-class technology for on-demand autonomous aerial delivery and has been able to generate more revenue from its operations in the US and Switzerland than any other peer company. Matternet’s technology has received approval from government aviation regulators (equivalent to DGCA in India). 

According to the company’s filings with the exchange, “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 in a few minutes. These flights are beyond visual line of sight (BVLOS) and flight over people (FLOPS). All these deliveries are fully autonomous with remote monitoring from central control rooms. Globally, 80 per cent of e-commerce parcels are under 2kgs, creating a large addressable market for Matternet UAV logistics platform.” 

RattanIndia Enterprises scrip jumped 4.98 per cent to touch a high of Rs 54.80 per share during the early market hours on August 11, 2021 (Wednesday).