14 May 2019, India:
Aerospace and Defence startup Tzar Aerospace has raised $15 billion from Dreamvision Overseas in exchange for 37 percent private equity.
Tzar Aerospace Research Labs known for its modern and innovative Aerospace solutions to its commercial as well as civil customers.
The primary business theme of Tzar 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 Aerospace market. Our startup has been very successful in establishing the trust among its clients and because of this trust recently we have raised $15 billion USD for 37% private equity from leading Singapore based companies, Dreamvision Overseas,” said Priyam Mohanty, Founder Tzar Aerospace.
An MOU has been also inked between Tzar Aerospace Research Labs and CTTC, Bhubaneswar, to explore and execute technology development and finding best possible solutions by incorporating their respective domain expertise.
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 to all young aspirants in the field of technology, the company said in a statement.
(Image – Tzar Aerospace)