Reliance Acquires Stake In US-Based Drone Robotics Company Exyn For Rs. 200 Crore
Summary
Reliance might be launching oils and pulses brands, and working with mithai makers, but it’s also quietly building up its capabilities in some cutting-edge fields. “The investment and partnership by RSBVL will have synergies with Reliance’s investments and strategic initiatives in drone, industrial safety & security and robotics areas, while accelerating Exyn’s product and technology development across multiple application areas and commercialisation,” Reliance said in a statement. Elm has worked with companies like Sun Microsystems and Bell Canada, while Vijay Kumar has a Bachelor’s degree from IIT Kanpur and a PhD in Mechanical Engineering from Ohio State University. Many of its products are used the mining industry, and it has even built navigation systems that work on Boston Dynamics’ infamous robots. Reliance has already announced a multi-billion dollar investment into clean energy initiatives, and its latest moves show that it’s willing to spend big money to acquire high-tech companies from across the world to help bring its plans to fruition.