Newspace Research & Technologies (NRT), a burgeoning Indian innovator in drone technology, has announced the successful closure of a $52 million bridge funding round. The investment, a mix of equity and debt, will propel the company's growth and accelerate its ambition to lead the swarm drone sector within India and beyond.
NRT's $33 million in equity funding comes from renowned investors, while an additional $19 million in debt facilities has been secured through support from SBI's startup hub and SIDBI. This substantial capital influx underlines NRT's rising prominence in the Indian defence industry and reinforces the confidence investors have in its cutting-edge drone solutions.
Specializing in swarm drone technology, NRT offers solutions tailored for defence, security, and reconnaissance operations. Their innovative work has captured the interest of the Ministry of Defence, solidifying the company's role as a critical driver within India's defence innovation landscape.
"This funding will allow us to rapidly scale our operations, expedite the development of our drone technology, and explore new strategic partnerships," said CEO of Newspace Research & Technologies. "We are deeply committed to strengthening India's defence capabilities and establishing our nation as a leader in the global drone industry."
Looking further ahead, NRT maintains a steadfast vision of international expansion. The company aims to leverage its advanced technological expertise and partnerships with global players to become a dominating force in the international defence technology market.
