India, Nov. 3 -- The Department of War's Office of Strategic Capital announced that it has signed a conditional loan commitment of up to $450 million to Neros, Inc., a U.S.-based developer and manufacturer of dual-use small unmanned aircraft systems.
This investment is intended to support Neros' domestic manufacturing expansion and reduce reliance on foreign-made components.
The Department of War's financing alongside additional private capital will support Neros' planned expansion of vertically integrated domestic manufacturing capacity to produce dual-use small drone platforms, ground control systems, and critical components like motors, radios, flight electronics, sensors, and batteries.
"Neros has already demonstrated an ability to d...