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Saturday / June 22. 2024
HomePosts Tagged "Global CEO of Magellanic Cloud"

The company aims to capture a 5 per cent share of the USD 6 billion last-mile delivery segment in India, leveraging its first-mover advantage and advanced technology.

Magellanic Cloud, a leading technology enterprise, has secured Rs 43 crore order from an Indian Robotics firm for the supply of logistics drones, marking its foray into the lucrative logistics sector. The Rs 43 crore order includes 45 CargoMax series drone kits, comprising RTF Quadrotor Airframe, Flight Controllers, RC Controllers, EO Payload, and Transport Cases, to be manufactured at Magellanic Cloud’s cutting-edge facility in Bangalore.

This milestone represents a major revenue boost for Magellanic Cloud’s newly launched drone business. “This is the first major order for Magellanic Cloud in the private sector for supplying drones, particularly for logistics and delivery operations,” said Joseph Sudheer Reddy Thumma, Global CEO of Magellanic Cloud. “We are confident that more companies in this sector will opt for drones to scale up their businesses.”

A key player in this development is Magellanic Cloud’s subsidiary, Scandron, the first company to receive approval from the Directorate General of Civil Aviation (DGCA) in India for providing logistics drones. The company aims to capture a 5 per cent share of the USD 6 billion last-mile delivery segment in India, leveraging its first-mover advantage and advanced technology.

Magellanic Cloud is targeting a USD 300 million market share in the first three years of operations in the last mile delivery segment. The company plans to follow a combination of B2B and B2C models for its drone delivery services, focusing on working with aggregators in commercial use under B2B and providing last-mile delivery under critical cases like armed forces, difficult terrains, and medical supplies under B2C.

The Indian e-commerce sector, estimated at USD 27 billion, presents a significant opportunity for drone-based delivery solutions, particularly in the last mile connectivity sector, which is estimated at USD 6 billion and growing at an annual rate of approximately 15%.

With its recent DGCA approval for India’s first logistics drone, Magellanic Cloud is well-positioned to revolutionise the Indian logistics sector, providing efficient and reliable drone-based delivery solutions tailored to Indian conditions.

The company aims to capture a 5