Home / Companies / Start-ups /  IPO-bound Delhivery acquires Transition Robotics
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BENGALURU : Logistics startup Delhivery has acquired California-based platform for unmanned aerial system platforms, Transition Robotics Inc. (TRI), for an undisclosed amount, the company said on Wednesday.  

Through the acquisition, Delhivery will look to strengthen its capabilities across a wide range of applications, including aerial photography, remote sensing, inspection, and surveys. As a part of the acquisition, all intellectual property (IP) by Transition Robotics filed in the US, has been assigned to Delhivery. 

 “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 (CTO), Delhivery. 

The current acquisition comes on the heels of Delhivery filing its draft papers with markets regulator, Securities and Exchange Board of India (Sebi) earlier in November, as it sets out to raise 7,460 crore through an initial public offering (IPO). 

Delhivery was planning to issue fresh shares worth 5000 crore as a part of its offer for sale (OFS), with existing investors offloading stake worth 2,460 crore in the company, as a part of the IPO.   

Investors Carlyle and SoftBank will be making a partial exit via the OFS. Private equity firm Carlyle Group, which first invested in the logistics startup in November 2017, will be selling shares worth 920 crore in the OFS, Mint had reported earlier.   

Ten-year-old, TRI works with all aspects of a small unmanned aerial system, from hardware and software design to testing, validation, and manufacturing. It provides services which help its clients and customers unlock new markets and applications.  

 “We are excited to join the Delhivery team and combine our experience in developing UAS solutions with Delhivery’s ability to quickly deploy and operate technology at scale. We believe our core technology and expertise is a great addition to Delhivery’s fully-integrated approach to logistics and are looking forward to being a part of its future," said Jeff Gibboney, co-founder, Transition Robotics Inc. 

In fiscal year (FY) 2020-2021, Delhivery fulfilled over 289.2 million express parcel orders, carried 373,854 tonnes of freight, while processing 47.37 million orders through its fulfilment centres, the company said as a part of its draft papers. 

For the fiscal year 2021, its company’s total income stood at 3,838.29 crore against 2,988.63 crore a year ago. Net loss for the period widened at 415.74 crore from 268.93 crore in the previous year.

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