RIL arm buys 23.3% share in US' Exyn Technology for `207 crore

New Delhi: RIL's arm Reliance Strategic Business Ventures has acquired 23.3 per cent stake in US-based Exyn Technologies Inc for $25 million (about Rs 207 crore).

Exyn is one of the leading autonomy technology companies, which enable drones and robots to navigate difficult terrains without GPS or other navigation technologies.

"Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Limited, has today acquired 23.3 per cent stake in Exyn Technologies Inc for a total consideration of $25 million," RIL said in a filing on Thursday.

Founded in 2014, Exyn is an early stage technology company with headquarters in Philadelphia, Pennsylvania.

"RSBVL and Exyn have also entered into a Strategic Partnership Agreement for technology collaboration and commercialization of Exyn's technology," the filing said.

Reliance Industries already holds a majority stake in robotics company Addverb Technologies and drone firm Asteria

Aerospace.