Source: Brinkwire

IPO-bound Delhivery acquires US-based drone technology company

4 types of drone imagery enabling better decision making

According to a statement released by the firm, Gurugram-based logistics services player Delhivery has announced the acquisition of Transition Robotics Incorporated (TRI) for an undisclosed amount, ahead of its anticipated Initial Public Offering (IPO).

Delhivery will also get the company’s IP in aerial photography, remote sensing, inspection, and surveys as part of its acquisition of the California-based maker of unmanned aircraft system platforms. Transition Robotics, founded in 2011, specialises in small drone design, development, testing, and production, as well as software solutions. In addition, the business has created a drone that can land in restricted take-off and landing locations.

Delhivery has made three acquisitions so far this year. It has earlier announced the acquisition of Primaseller, a software-as-a-service inventory management platform for small enterprises. It also bought Spoton Logistics, a business-to-business logistics firm, for an unknown sum in August. In November, Delhivery filed a Draft Red Herring Prospectus with SEBI, the markets regulator, to fund Rs 7,460 crore (almost $1 billion) from the public market.

In FY 2020-21, the company reported a revenue of Rs 3,646.5 crore, up from Rs 2,780 crore the previous year. The net loss for FY 2020-21 was Rs 415.7 crore, up from Rs 269 crore the previous year.

Over 17,000 pin codes are served by Delhivery, which provides logistics services such as quick parcel delivery, partial and full truckload freight, cross-border shipping, supply chain, and technology. It serves more than 21,000 customers in ecommerce, SMEs, and businesses, as well as brands.