New Delhi, May 1 -- Telangana-based Magellanic Cloud announced its entry into the logistics sector by bagging a Rs.43 crore drone deal from an undisclosed Indian robotics firm. Under this agreement, the company will be delivering 45 CargoMax series drone kits - along with RTF Quadrotor Airframe, Flight Controllers, RC Controllers, EO Payload, and Transport Case. All these pieces of equipment will be built in Magellanic Cloud's Bengaluru facility.
"This is the first major order for Magellanic Cloud from a private company to supply drones and will be used in the logistics and delivery sector. This also marks the boost of our revenue stream from the newly launched drone business which we intend to ramp up aggressively. We are confident that more companies in this space will opt to use drones to scale up their businesses," said Joseph Sudheer Reddy Thumma, Global CEO, Magellanic Cloud.
Digital transformation and drone-based solution provider Magellanic Cloud will be following a combination of B2B and B2C models for its drone delivery services. It will work with the aggregators in commercial use under a B2B model delivering supplies between hubs; and providing last-mile delivery under critical cases - like armed forces, difficult terrains, medical supplies, etc - under a B2C model. The company aims to upscale its backend to meet the demands of the last-mile delivery segment which is globally worth $300 million.
To be sure, Magellanic Cloud's subsidiary, Scandron, became the first company to get approval from the Directorate General of Civil Aviation (DGCA) for providing logistics drones in the country. The company aims to target a 5% share in the $6 Billion last-mile delivery segment in India.
Published by HT Digital Content Services with permission from TechCircle.