NewSpace Research & Technologies (NRT), an Indian pioneer in drone technology for the defense sector, has recently secured a significant $52 million in funding, marking a pivotal milestone in its journey. This funding was obtained through a bridge round, including $33 million from marquee investors and $19 million in loans from SBI’s startup hub and SIDBI, showcasing strong financial backing and confidence in NRT’s capabilities.
NRT’s trajectory is marked by notable achievements and groundbreaking innovations. From delivering cutting-edge swarming drone systems, including a tethered drone system, to the Indian defence ministry and setting records with multirotor systems reaching unprecedented altitudes, NRT has demonstrated its prowess in the defence and aerospace sectors. Its latest innovation—a solar-powered UAV with an impressive 21-hour flight duration—is a clear indication of its commitment to technological advancement and operational excellence. With ongoing projects for the Indian Army and ambitious plans to achieve billion-dollar status within five years, NRT emerges as a formidable contender in the global defence technology arena.
Beyond its domestic successes, NRT’s strategic vision extends to international markets, with impressive showcases in Japan and aspirations to expand into key regions like the Middle East and the US. Its swarm drones, utilized for disaster management in Japan, highlight the real-world applications and global relevance of NRT’s technology. This ambitious outlook, coupled with a focus on becoming a major player in the rapidly evolving drone industry, positions NRT as a company to watch, poised for significant impact and growth on a global scale.
India has experienced a boom in drone startups over the past decade, fueled by the growing popularity of drones. This surge in demand is evident in a market expected to reach $13 billion by 2030, a significant increase from $2.71 billion in 2022. Leading this charge are startups like Garuda Aerospace, Marut Drones, BonV Aero, Skylark Drones, Skye Air Mobility, and Preimage. Recognizing the immense potential, the government is actively supporting the industry’s growth with the aim of making India a global drone hub by 2030. Initiatives such as “Make in India,” relaxed defense procurement policies, and programs promoting innovation like iDEX are fostering a strong ecosystem for both startups and established companies. Investors share this optimism, anticipating that these advancements will lead to impactful technologies used worldwide.
India’s booming tech startup scene is now making its mark in the defence industry. This sector has traditionally been known for its reliance on middlemen and a complex procurement system. However, startups are bringing a breath of fresh air by developing innovative and specialized technologies for the Indian military. With proper support, these startups have the potential to revolutionize India’s military capabilities, reduce dependence on foreign technology, and even attract investments from the world’s tech hub, Silicon Valley.
India ranks third globally in military spending, accounting for 3.7% of the world’s total in 2022. This translates to $76.6 billion, following the U.S. at $801 billion and China at $293 billion. India also boasts a massive military force, the second-largest in the world, with 1.4 million active personnel and 1.3 million in reserve across its army, navy and air force. Despite this significant spending, which consumes nearly 2.4% of India’s GDP, a key question remains: what portion of this military expenditure comes from domestic sources?
India’s defence manufacturing sector is undergoing a positive transformation. Established companies and new players are both getting ready to take advantage of the growing opportunities in defence and aerospace. This surge in interest is fuelled by the government’s plan to invest heavily in modernizing the military, with an average of ₹1.5 lakh crore allocated annually until 2030. (VT)
