Magellanic Cloud forms Rs 100-crore JV with Rayonix Tech, Israel’s Xtend to make drones in India

Surveillance technology firm Magellanic Cloud has formed a joint venture, valued at around Rs 100 crore, with indigenous defence technology firm Rayonix Tech to manufacture unmanned aerial vehicles in India, the company said on Tuesday.

The joint venture will make drones (unmanned aerial vehicles) in partnership with Israel-based AI-powered robotics, UAV and software systems company Xtend.

“This joint venture (JV) marks a defining moment in Magellanic Cloud‘s mission to revolutionise the defence ecosystem.

“By integrating Xtend’s globally battle-proven platforms, we are delivering more than just a drone; we are providing a sophisticated digital nervous system for modern warfare,” Magellanic Cloud Global CEO and MD, Joseph Sudheer Thumma, said in a statement.

The company said that the JV is valued at approximately USD 11 million (around Rs 100 crore).

The JV will establish localised manufacturing, testing and distribution capabilities for UAV systems in India, to cater to the growing demand for advanced UAV systems from India’s defence ecosystem.