Magellanic Cloud and Rayonix Tech incorporated MCRAY XTEND INDIA as a drone technology SPV. The company's 60% stake strengthens its indigenous UAV and defense manufacturing capabilities.
Magellanic Cloud Limited announced a ₹100 Crore (~$11 million) joint venture with Rayonix Tech and XTEND to manufacture advanced UAV systems in India. The JV will establish localized manufacturing and testing, leveraging XTEND's XOS operating system. This marks a major expansion into India's defense sector, supporting 'Make in India' initiatives.
