Announcement Trentar Group acquires 76 per cent stake in the Chennai based UAV manufacturer - RFLY Innovations

Mumbai (Maharashtra) [India], September 29 (ANI/BusinessWire India): Trentar Pvt Ltd announced yet another significant acquisitions in the UAV manufacturing sector, alongside a controlling stake with One of India's most innovative startups in the UAV Design to Delivery space, RFLY Innovations.
The acquisition will focus on commercialising multirotors and helicopters for both commercial and defense segments in India and global markets. This acquisition along with the others done by Trentar recently will help make India independent and self-sufficient in the complete UAV Ecosystem.
Trentar had recently acquired TM Aerospace which specializes in Fixed Wing UAV Platform and GarudaUAV, a leading Drone based services and platform company. Trentar had earlier committed to invest Rs. 100 Cr in 3 years to design and build specialized Drones for Defence and Civil purposes along with Indigenously built subsystems.

Chennai-based RFLY Innovations specialises in the Multi Rotor segment and already has products for survey, surveillance, heavy lift and tethered platform, which will find its use both in civil and defence segments with deployment at both plains and high Altitude. The Heavy Lift, LIDAR integrated and the Tethered platforms will prove to be game changers in the industries across verticals.
RFLY Innovations is also committed to launch their Heli Platforms for both surveillance and load lifting at high altitudes. Development of these and their Autopilot & Communication platforms are currently in progress and slotted for launches in the near future. This will not only help strengthen the defence forces but will also help India save significantly on Foreign Exchange spent hitherto to acquire them, thereby realising the Atmanirbhar dream of the Government.
Subodh Menon, Founder, Trentar, expresses, "To be a Full Stack UAV solutions company is the Vision we have for Trentar. The acquisition will further strengthen the group's objective of building completely indigenous, world-class UAV ecosystem. It will also help us to fill the gap of multi-rotors we had in our product folio. The acquisition of RFLY Innovations and providing the necessary tail wind for its growth is part of our commitment to give a huge advantage to the Indian UAV Industry and will also make India a leading player in this speciality and new age segment. This acquisition will transform RFLY Innovations into a Market Leader in the design to delivery space of Multi Rotor Platforms."
Commenting on the acquisition, Sudhir Menon, Chairman, Trentar said, "This acquisition of majority stake in RFLY Innovations is in continuation of Trentar's foray into the Global UAV Industry. We keenly look forward to commercialise the highly innovative platforms developed at RFLY Innovations till now, which we are sure will benefit the Global Civil and Defence markets in a big way."
Founders of RFLY Innovations Mohamed Rafeek and Dr. Mohamed Rasheed in a joint statement said, "This acquisition by Trentar is highly strategic. The Innovative culture at RFLY Innovations backed by the vision of the Trentar Leadership and the way they have been nurturing other companies acquired recently gives us great confidence that RFLY Innovations' products will be successful and go global. We are also thrilled with the benefits of Synergy with the other companies already within the Trentar Group."
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