May 14: Aerospace and defence startup company Tzar Aerospace Research Labs has raised $15 billion for 37 percent private equity from Singapore based Dreamvision Overseas.
Tzar Aerospace, a brain child of Priyam Mohanty, is a registered startup known for its modern and innovative Aerospace solutions to its commercial as well as civil customers. The company’s primary business is to design and develop a conceptual unmanned hypersonic research aircraft with new computational approaches and methods, said a report.
According to a news report quoting Priyam Mohanty, Founder of Tzar Aerospace, “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 Singapore-based Dreamvision Overseas.”
Ever since the Union government kicked off its Startup India initiative to promote startups, Tzar Aerospace has been taking up the projects under the category of Swachh Bharat, renewable energy, drone manufacturing, aerospace engineering, biochemical and robot technology.
Tzar Aerospace Research Labs and CTTC, Bhubaneswar had recently inked a MoU towards exploring and executing technology development and finding best possible solutions by incorporating their respective domain expertise.
This collaboration with CTTC is used for design and manufacturing of high precision components and assemblies. This joint aerospace startup hub caters to young innovators , and looks to provide a strong platform to all young aspirants in the field of technology.