New Delhi: Indian conglomerate RattanIndia Enterprises Ltd., which has interests in power generation, transmission, electric mobility, consumer finance and renewable energy, on Tuesday said that it will make a strategic investment in US-based urban drone logistics platform Matternet. These flights are Beyond Visual Line of Sight (BVLOS) and Flight over People (FLOPS)," RattanIndia said in the statement. RattanIndia's investment in Matternet comes less than a month after the ministry of civil aviation (MoCA) released the updated draft Drone Rules, 2021 for public consultation, which will soon replace the UAS (unmanned aircraft system) Rules 2021. The updated Drones Rules 2021 aims at making it easier for corporations to seek permissions for drone operations. The partnership with Matternet is in line with our philosophy of investing in new age cleantech companies with tremendous growth potential," said Anjali Rattan, Business Chairperson at RattanIndia Enterprises.

Source: Mint August 10, 2021 15:00 UTC