SOURCE: AFI
Newspace Research & Technologies (NRT), a pioneering Indian defense startup specializing in drone technology, has achieved a major milestone by securing $52 million in a bridge round of funding. This significant equity raise highlights NRT’s growing prominence in India’s defense sector and underscores investor confidence in the company’s innovative capabilities.
The funding round comprises $33 million in equity investment from prominent investors and $19 million in debt facilities, with support from SBI’s startup hub and SIDBI. This injection of capital will provide NRT with the necessary resources to expand its operations, accelerate product development, and pursue strategic initiatives aimed at enhancing its market position.
NRT’s expertise lies in swarm drone technology, a cutting-edge field with vast potential applications in defense, security, surveillance, and reconnaissance missions. The company’s innovative solutions have garnered attention from the Ministry of Defence, establishing NRT as a key player in India’s defense innovation ecosystem.
One of the notable aspects of NRT’s strategic vision is its commitment to global expansion. By leveraging its advanced drone capabilities and establishing partnerships with international stakeholders, NRT aims to position itself as a leading player in the global defense technology market.