The News Scroll 14 May 2019  Last Updated at 12:05 pm | Source: PTI

Tzar Aerospace, an India-based Aerospace and Defence Startup, Raises USD 15B

Tzar Aerospace, an India-based Aerospace and Defence Startup, Raises USD 15B
outlookindia.com
1970-01-01T05:30:00+0530

(Eds: Disclaimer: The following press release comes to you under an arrangement with NewsVoir. PTI takes no editorial responsibility for the same.) New Delhi | Odisha, India(NewsVoir) Brain child of Mr. 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 business theme of Tzar Aerospace is to design and develop a conceptual unmanned Hypersonic Research Aircraft with new computational approaches and methods. On this occasion Mr. Priyam Mohanty, Founder of Tzar Aerospace said, “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.” Startup India is an Indian government’s initiative to promote startups, creating new job opportunities and making India strong. 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 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 to all young aspirants in the field of technology. Moreover this joint venture will provide all technical support through its Business incubation Centre and new employment opportunities for young engineers shall be created. About CTTC, Bhubaneswar CTTC is known for its efficient and state of the art technical support system and facilities. It’s been a contributing partner to ISRO, HAL, ADA and DRDO etc. in many space missions like Mars mission, Moon mission and OEM supplier of hardware for LCA projects. Now CTTC has collaborated with Tzar Aerospace to create Aerospace hub in Odisha. Priyam Mohanty, 36, is an alumnus of the Manipal Institute of Technology, India and Cranfield University, UK. He has successfully completed more than 70 specialised training in Aerospace Engineering subjects & Best Management Practices Positive feedback from industry and exceptional leadership potential of Mr Mohanty helped investors for such a phenomenal investment in Aerospace and Defence sector in India. Startup in India It is interesting to know that the cyber city Hyderabad has been emerged as the 75th best city worldwide for startups in 2019 and Chennai is on 74th rank. But Bengaluru has scored its place in the Top 50 destinations for startup. So it is clear that India is emerging as one of the most promising countries for startups with high startup activities in many cities. For Hindi press release - click here. Image: Mr. Priyam Mohanty, Founder of Tzar Aerospace PWR PWR


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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