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Tzar Aerospace, an India-based aerospace and defence startup, raises USD 15bn


Brainchild of Priyam Mohanty, Tzar Aerospace Research Labs is a registered startup company known for its modern and innovative aerospace solutions to its commercial as well as civil customers. The primary theme of Tzar Aerospace is to design and develop a conceptual unmanned hypersonic research aircraft with new computational approaches and methods.

"It's a matter of tremendous pleasure and great pride for us that we have successfully marked our presence in the field of the aerospace market. Our startup has been very successful in establishing the trust among its clients and because of this trust recently we have raised USD 15 billion for 37 per cent private equity from leading Singapore based companies, Dreamvision Overseas," said Priyam Mohanty, Founder of Tzar Aerospace.

Startup India is a government initiative to promote startups, create new job opportunities and make India stronger. Tzar Aerospace has been taking up the projects under the category of Swachh Bharat, renewable energy, drone manufacturing, aerospace engineering, biochemical and robot technology etc.

To explore and execute technology development and finding the best possible solutions by incorporating their respective domain expertise an MoU has been also inked between Tzar Aerospace Research Labs and CTTC, Bhubaneswar. With this important collaboration state of the art facilities at CTTC shall be used for design and manufacturing of high precision components and assemblies.

This joint aerospace startup hub shall cater to young innovators and startup aspiring personals. It will provide a strong and huge platform for all young aspirants in the field of technology. Moreover, this joint venture will provide all technical support through its Incubation Centre and new employment opportunities for young engineers shall be created.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 14 2019. 13:24 IST