ADVERTISEMENT
Reliance Industries Acquires 23.3% In U.S. Robotic Startup Exyn
Exyn's technology enables drones and robots to navigate difficult terrains.
22 Dec 2022, 09:20 PM IST
Reliance Industries Ltd., through its subsidiary, has acquired 23.3% stake in Exyn Technologies Inc.
Reliance Strategic Business Ventures Ltd., a wholly owned subsidiary of Reliance Industries, acquired stake in the robotic company Exyn Technologies for $25 million (approximately Rs 207.3 crore), according to an exchange filing.
Exyn is a U.S.-based "multi-platform robotic autonomy for complex, GPS-denied environments". It enables drones and robots to navigate difficult terrains without GPS or other navigation technologies.
Reliance Strategic Business Ventures and Exyn have also entered into a strategic partnership agreement for technology collaboration and commercialisation of Exyn’s technology, the filing said.
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT