Accelerated Money For U Joins Forces with TSAW Drones

By siliconindia  |  Tuesday, 23 January 2024, 12:39:01 PM IST

Accelerated Money For U Joins Forces with TSAW Drones
Accelerated Money For U (AMU), a prominent Indian tech-driven Non-Banking Financial Company (NBFC), has officially ventured into the realm of advanced air mobility. The company has solidified its presence in this space by establishing a partnership with TSAW Drones, a well-acknowledged provider of drone logistics services in India.
In a strategic alliance, AMU has become the inaugural NBFC to provide specialized debt financing for drone-related endeavors. Within this collaboration, AMU will assist TSAW in augmenting its UAV fleet and overall production capabilities within the Indian market. Through this financial partnership, AMU aspires to facilitate additional significant collaborations and investments in the Unmanned Aerial Vehicles (UAV) sector, fostering innovation and development. The company, as highlighted in a media release, aims to position itself as a trailblazer in clean technology financing.
TSAW Drones is a leading name in the drone technology space, offering innovative last-mile delivery using its latest drone fleet. AMU’s support will enable them to renew their efforts towards developing and displaying efficient and sustainable drone solutions across leading industries, including healthcare, logistics, and agriculture, the release said. The Indian drone market, projected to generate USD 27 million in revenue in 2024 and anticipated to record a robust annual growth of 5.96% between 2024 and 2028, will benefit significantly from strategic alliances like this headed by AMU.
Nehal Gupta, MD of AMU, said, "AMU’s partnership with TSAW Drones is a huge milestone for us as we step into the advanced air mobility space. I am beyond thrilled to witness how our powerful collaboration unfolds and its potential impact on the nascent UAV industry. AMU understands the transformative potential of drone technology and is proud to be a pioneer in debt financing and its journey. I am confident this timely push will revolutionize aerial logistics in India beyond our imagination and open more doors for its advancement".
AMU is actively exploring opportunities for diversification into sectors such as drones and buses while strategizing state-wide expansions throughout the country to fortify its market footprint. The NBFC intends to play a substantial role in advancing technology within the electric vehicle (EV) and drone industries through its recent collaborations. These partnerships are geared toward supporting innovative initiatives that propel the nation towards environmentally-friendly mobility and sustainable practices, as mentioned in the press release.

ON THE DECK

Top Banner

Related Articles