29
Apr
Mumbai (Maharashtra) [India], April 29: Magellanic Cloud Limited (NSE: MCLOUD | BSE: 538891 | INE613C01026), a technology-driven enterprise focused on emerging and high-growth sectors, today announced the formation of a strategic joint venture (JV) to manufacture advanced Unmanned Aerial Vehicle (UAV) systems in India. The Company has entered into the JV with Rayonix Tech, an India-based defence technology company, in partnership with XTEND, an Israel-based AI-powered robotics, UAV, and software systems company. This development marks a significant step in Magellanic Cloud’s expansion within the fast-growing defence and security technology sector. ₹100 Crore Investment in Localised Manufacturing The joint venture, valued at ~US$11 million (~₹100 crore), will establish end-to-end manufacturing, testing, and distribution capabilities in India. These…
