Garuda Aerospace Pvt. Ltd., an integrated drone manufacturer and drone-as-a-service (DAAS) provider based in India, would invest Rs 115 crore in the construction of a production facility in Malaysia. The decision is made to establish a drone manufacturing plant in Malaysia, with a daily production capacity of around 50 drones. The components would be imported from India and other nations.
- The city-based business has partnered with HiiLSE Global Sdn Bhd (HiiLSE Drones), a Malaysian drone start-up.
- This alliance will establish a drone ecosystem with cutting-edge artificial intelligence, machine learning, and deep learning technology.
- The partnership is not a joint venture in which the equity capital is shared by two entities. The Malaysian firm will make it possible for Garuda Aerospace to establish the factory and other commercial opportunities.
- Garuda Aerospace would conclude in July after raising USD 30 million.
- Shanmugam S. Thanggavilo, the founder and CTO of HiiLSE Drones, predicted that a drone manufacturing facility in the area will generate 3,000 new employment involving drone skills.
Important Takeaways for All Competitive Exams:
- Garuda Aerospace’s founder and CEO: Agnishwar Jayaprakash
- Founder and CTO of HiiLSE Drones: Shanmugam S. Thanggavilo