RattanIndia to invest in urban drone logistics platform Matternet

RattanIndia Enterprises Ltd. (REL) said that it will invest in US-based urban drone logistics platform Matternet, in a move to enter into the unmanned aerial vehicle (UAV) industry.

Based in Silicon Valley, Matternet is backed by investors such as Boeing, McKesson Ventures, Mercedes-Benz, and Sony.

Founded in 2011, Matternet offers technology for on-demand, autonomous aerial delivery in urban environments.

According to RattanIndia Enterprises, Matternet has earned more revenue to date than any other UAV company through its operations in the US and Switzerland.

Andreas Raptopoulos — CEO of Matternet said: “We are witnessing an inflection point in urban drone delivery and are excited to partner with RattanIndia to explore opportunities in India.

“India is a country with numerous densely populated and congested cities, an ideal scenario for Matternet drones to bring greater reach, reliability and speed to healthcare and other everyday needs of the local population, while at the same time decreasing pollution and traffic.”

RattanIndia to invest in urban drone logistics platform Matternet. Photo courtesy of andri333 from Pixabay.

Matternet uses emission-free drone technology for delivering items weighing up to 2kgs over distances of 20kms in a few minutes. The company’s flights are Beyond Visual Line of Sight (BVLOS) and Flight over People (FLOPS).

Currently, Matternet offers its platform-as-a-service to companies in the healthcare and logistics industries. Alongside its partners Swiss Post, Japan Airlines (JAL), and UPS, the company is said to cater to various hospitals and pharmacy chains that include CVS, Wake Forest Baptist Health, WakeMed Hospital, University of Zurich Hospital, and EOC Lugano.

Anjali Rattan — Business Chairperson, RattanIndia Enterprises, said: “We are highly impressed with the team and credentials of Matternet. The partnership with Matternet is in line with our philosophy of investing in new age cleantech companies with tremendous growth potential.

“We share Government’s (Indian) vision of Drone as a futuretech, which opens new vistas of business opportunities.”

Earlier this year, RattanIndia Enterprises forayed into the electric vehicle business by acquiring a 43% stake in Revolt Intellicorp for INR 1.5 billion.