India, April 29 -- Magellanic Cloud 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.The joint venture, valued at ~US$11 million (~Rs 100 crore), will establish end-to-end manufacturing, testing, and distribution capabilities in India. These UAVs will cater to the evolving requirements of the armed forces and security agencies, support...