Magellanic Cloud bags Rs 43-cr supply order for 45 logistics drones
The domestic drone sector has been witnessing the emergence of homegrown players with tailored offerings to suit Indian conditions
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Mumbai: Magellanic Cloud on Tuesday announced securing a supply order for 45 logistics drones worth Rs 43 crore from a domestic robotic firm. As part of the order, the company will provide 45 Cargomax series drone kits as well as training for logistics and delivery operations, Magellanic Clouds said in a statement.
This marks the company's entry into the logistics sector that has a high potential with multiple players in India and abroad, it said. "This is the first major order for Magellanic Cloud from a private company to supply drones and will be used in the logistics and delivery sector, " said Joseph Sudheer Reddy Thumma, Global CEO at Magellanic Cloud. This order will boost the revenue stream from the newly-launched drone business which it intends to ramp up aggressively, he added.
The domestic drone sector has been witnessing the emergence of homegrown players with tailored offerings to suit Indian conditions, according to the company. The company said it is targeting a 5 per cent market share of the $6-billion last-mile delivery segment. The company is aiming to capitalise on first mover advantage and corner a sizeable share of $300 million in market share in the first three years in the last mile delivery segment, it said, adding it would be scaling up its backend to meet the demand.
Magellanic Cloud said it will follow a combination of B2B and B2C models for its drone delivery services. The focus would be to work with aggregators in commercial use under a B2B model delivering supplies between hubs and providing last-mile delivery under critical cases under the B2C model, it stated. Magellanic Cloud's claims its subsidiary, Scandron was the first company to get the DGCA approval for providing logistics drones in the country.
