NRT develops swarm-drone systems and related dual‑use technologies, with running contracts with India’s ministry of defence. The company has delivered a world‑class swarming system, set a global record for highest altitude multirotor flight, and demonstrated a solar‑powered 21‑hour continuous UAV flight. It is in the process of delivering a tethered system to the Indian Army and has showcased swarm operations in Japan for disaster response. NRT has stated global ambitions and is looking to expand into Japan, the Middle East, Europe and the US. The company aims to scale further amid supportive Indian defence policies and industry schemes that bolster domestic deep‑tech startups. NewSpace Research and Technologies designs and develops persistent drones for earth observation and communications, with platforms operating between 5 km and 20 km and endurance from days to months. The company targets defense customers and plans to expand into civil logistics drone operations. It was founded in 2018 and is Bengaluru-based. NewSpace reported revenue from operations of zero in FY22 versus Rs 15.5 crore in FY21, and booked a loss of Rs 19 crore in FY22 after a profit of Rs 1.75 crore in FY21. The company has secured commercial interest from the Indian Army, which signed deals worth over Rs 200 crore for swarm drones involving NewSpace and Raphe. Proceeds from the recent fundraise will be used for capital expenditure and other corporate purposes.

Total raised

$55M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Mar 2024