Reliance Strategic Business Ventures (RSBVL), a wholly owned subsidiary of Reliance Industries (RIL), announced the acquisition of 23.3% of Exyn Technologies Inc (Exyn) for a total consideration of US$ 25 million. RSBVL and Exyn have also signed a Strategic Partnership Agreement to collaborate on technology and commercialise Exyn’s technology.
Exyn is an early-stage technology company founded in Delaware in 2014, with headquarters in Philadelphia, Pennsylvania, USA. Exyn Technologies is a multi-platform robotic autonomy pioneer for complex, GPS-denied environments. The company’s full-stack solution allows for the flexible deployment of single or multi-robots capable of intelligently navigating and dynamically adapting to complex environments in real time. Exyn is a leading autonomy technology company that allows drones and robots to navigate difficult terrains without the use of GPS or other navigation technologies.
The aforementioned investment and partnership by RSBVL will complement Reliance’s strategic investments and initiatives in the areas of industrial safety & security, robotics, and drones while accelerating Exyn’s product and technology development across a variety of application areas.