March 2: NewSpace Research & Technologies (NRT), a ambitious drone manufacturer in India’s defense sector, has secured a staggering $52 million (INR 430.9 crore) in a bridge funding round to power it ambitious unmanned aerospace systems innovation.
The infusion of capital will provide strong thrust NRT’s ambitious growth trajectory and reinforce its position as a game-changer in the aerospace systems industry.
NRT’s Co-founder and COO, Julius Amrit, reflects on the journey ahead: “It’s not an easy path, but the timing for an Indian company to lead the world’s transformation couldn’t be better.”
Equity Boost: A substantial $33 million infusion from marquee investors underscores NRT’s strategic vision and technological prowess.
Debt Dynamics: SBI’s startup hub and SIDBI contribute an additional $19 million in debt financing, fortifying NRT’s financial foundation.
Based in Bengaluru, NRT’s 46-member team pioneers next-generation aerospace technology, including unmanned air systems. Their mission? To redefine the skies and shape a safer, smarter future.
NewSpace onboards three new venture capitalists for its ambitious unmanned systems mission
NewSpace has also welcomed three new venture capitalists—Cornerstone Venture Partners, 360 ONE Asset, and Volrado Venture Partners—signaling confidence in the company’s disruptive capabilities.
With a focus on innovation, NRT has achieved remarkable milestones, including a swarming system for the defense ministry, a record-breaking altitude flight, and a solar-powered UAV with a continuous 21-hour flight.
Beyond India, NewSpace aims to expand its portfolio globally, having already demonstrated swarm drone operations in Japan. As they continue to redefine the skies, NRT’s journey promises to be both exciting and transformative
Further NRT aims to expand its portfolio and make waves internationally with a focus on ṭhe Middle East and US.
NRT’s Feats
Swarming System: NRT’s cutting-edge swarming system has transformed tactical operations for the defense ministry.
Altitude Record: The company achieved the highest altitude flight in a multirotor system, setting a new benchmark.
Solar-Powered Marvel: NRT’s UAV completed an unprecedented 21-hour continuous flight—a remarkable feat for India.
Tethered System for Indian Army: NewSpace is currently delivering a tethered system to our armed forces.
