Delhivery acquires US-based Transition Robotics
IPO-bound Delhivery has acquired Transition Robotics Inc, a California-based company focused on developing unmanned aerial system platforms for an undisclosed amount.
This deal will help Delhivery strengthen its capabilities in a wide range of applications, including aerial photography, remote sensing, inspection and surveys.
Founded in 2011 in Santa Cruz, Transition Robotics has been focusing on taking vertical-takeoff unmanned aerial systems with advanced flight capabilities to the market. It brings a decade of experience with all aspects of small unmanned aerial systems, from hardware and software design to testing, validation, and manufacturing. It seeks to unlock new markets and applications for its customers.
"While we continue to build our supply chain platform, we must look at the long-term developments poised to shape the industry. Bringing TRI onboard gives us a chance to get directly involved with core drone technology as regulations and use cases for drones are evolving in the country," said Kapil Bharati, Chief Technology Officer, Delhivery.
Delhivery on November 2 filed its documents with the market regulator, seeking to raise a billion dollars in an initial public offering.
The IPO, which is likely to happen early next year, will mark a lucrative exit for many of its investors, make some employees rich and serve as a barometer to measure India's startup and tech sector's success.
Delhivery claims to have successfully fulfilled over one billion shipments since inception and today works with over 21,000 customers, including large and small e-commerce companies, SMEs, and other enterprises and brands.