Transition Robotics Inc, a California-based company that develops Unmanned Aerial System (UAS) platforms, has been acquired by Delhivery, a new-age logistics services provider.
“All IP registered in the US is assigned to Delhivery with this transaction, strengthening its capabilities in a wide range of applications, including aerial photography, remote sensing, inspection, and surveys,” the IPO-bound company said.
This is Delhivery’s second acquisition, following the $300 million purchase of Spoton Logistics in August. This was done to improve the company’s business-to-business (B2B) capabilities.
Delhivery filed its draft prospectus for a Rs 7,460 crore initial public offering with India’s Securities and Exchange Board (Sebi) last month (IPO).
TRI “seeks to unlock new markets and applications for its customers and has a proven track record of shepherding innovative concepts to production,” Delhivery said in a statement.
The Santa Cruz-based firm has a decade of experience in all phases of small UAS development, including hardware and software design, testing, validation, and manufacturing.
“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, Delhivery.
Delhivery provides logistics services like express parcel transportation, PTL and TL freight, cross-border, supply chain, and technology services through its nationwide network of over 17,000 pin codes.
Since its establishment, it claims to have fulfilled over 1 billion shipments and currently works with over 21,000 customers.
The 10-year-old company’s main source of revenue is e-commerce deliveries, but it has just begun to grow into the B2B market as well. It operates in various industries, including consumer electronics, fashion, fast-moving consumer goods (FMCG), and a few industrial sectors, such as auto.
“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, TRI.
Since its inception in2011, TRI has focused on bringing vertical take-off UAS with superior flight capabilities to market.