Deals30 Apr 2024, 04:03 pm
Magellanic Cloud Secures First Major Logistics Drone Order worth Rs 43 crore
AI Summary
Magellanic Cloud Limited's subsidiary, Scandron Private Limited, has secured its first major logistics drone order from an Indian robotics firm, valued at Rs 43 crore. This order marks Magellanic Cloud's entry into the logistics sector, and the company aims to target a 5% share in the USD 6 billion last mile delivery market in India.
Key Highlights
- Magellanic Cloud secures first major drone order for Rs 43 crore
- Company entering logistics sector, targeting 5% market share in USD 6 billion last mile delivery segment
- Magellanic Cloud's subsidiary, Scandron, is the first in India to get DGCA approval for logistics drones
- Order involves delivery of 45 CargoMax series drone kits for logistics and delivery operations
- Magellanic Cloud to follow a combination of B2B and B2C models for its drone delivery services