Wednesday, August 11, 2021

Rattanindia Enterprises hits the roof on strategic investment in US-based drone logistics platform

Rattanindia Enterprises hit an upper circuit of 5% at Rs 54.50 after the company said that it has decided to make a strategic investment in US based Matternet, the world's most extensive urban drone logistics platform.

With this investment, REL has forayed into the deep-tech unmanned aerial vehicle (UAV) industry, which is set to transform logistics ecosystems worldwide. Matternet, based out of Silicon Valley counts Boeing, Mercedes-Benz, McKesson Ventures and Sony as investors.

Matternet provides best-inclass technology for on-demand, autonomous aerial delivery in urban environments and has garnered more revenue to date than any other UAV company from its operations in the US and Switzerland.

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% of e-commerce parcels are under 2kgs, creating a large addressable market for Matternet UAV logistics platform.

Matternet currently provides its platform-as-a-service to companies in the fields of healthcare and logistics. Together with its partners Swiss Post, UPS and Japan Airlines (JAL), the company serves numerous hospitals and pharmacy chains such as CVS, WakeMed Hospital, Wake Forest Baptist Health, EOC Lugano and University of Zurich Hospital.

11/08/21 Capital Market/Business Standard

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