$100 million boost for drone startup Raphe mPhibr
Bengaluru: Indian drone startup Raphe mPhibr raised $100 million, led by General Catalyst, marking the largest private fundraise in the sector by an Indian company to date. The round also saw participation from existing investors Think Investments, Amal Parikh, and other family offices, bringing the company's total capital raised to $145 million.
The fresh funds will be used to expand Raphe mPhibr's end-to-end aircraft design, engineering, and manufacturing facilities as it positions itself to support India's growing needs for domestically developed aerospace technologies.
Founded in 2016, Raphe mPhibr focused on building mission-critical platforms for the Indian armed forces. Its offerings include the mR10 drone swarm, the mR20 high-altitude logistics platform, the Bharat man-portable surveillance drone, and the X8 for maritime patrol and reconnaissance.
The company said it also developed India's first indigenous military-grade autopilot and internal combustion engine.
You Can Also Check:
Bengaluru AQI
|
Weather in Bengaluru
|
Bank Holidays in Bengaluru
|
Public Holidays in Bengaluru
Raphe mPhibr was founded by Vikash Mishra and Vivek Mishra, technologists with deep expertise across aerospace and engineering disciplines. Vikash brings a background in aerospace engineering and nuclear science from MIT, with early experience at Idaho National Laboratory and CERN. Vivek holds a PhD in electrical and computer engineering from Georgia Tech, specialising in bio-inspired algorithms and sensor networks, and worked in engineering and operations at Bharat Petroleum.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Trending in in 2025: Local network access control [Click Here]
Esseps
Learn More
Undo
With over 600 staff, 100 unique IPs, and more than a million kilometres of flight logged across its platforms, Raphe mPhibr operates an aerospace manufacturing campus with dedicated departments in aerodynamics, structural mechanics, materials science, thermodynamics, and electronics. This allows it to design and produce critical equipment for challenging environments such as mountains, deserts, and oceans.
Its state-of-the-art facilities cover metal processing, composites, engine design, and military-grade electronics.
The company collaborated with global aerospace leaders such as Dassault Systèmes, Hensoldt, and Safran. Its focus, a statement said, is to build platforms and technologies that advance India's self-reliance in aerospace and defence, aligning with the country's Aatmanirbhar Bharat and Make in India policies."This funding is more than an investment; it is a commitment to build in India what the country can no longer afford to import," the company said in the statement.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
17 minutes ago
- Hans India
Tier-III Cities Drive 62% of New Insurance Premiums: Probus Report
Probus, one of India's leading InsurTech and insurance broking firms, has released a new report highlighting a major shift in the country's insurance landscape. The findings reveal that Tier-III cities and beyond now contribute nearly 62% of total new insurance business in the current fiscal year, signalling a dramatic decentralisation of India's insurance growth story. Once considered peripheral markets, smaller towns are rapidly emerging as the real growth engines of Digital Bharat, a transformation propelled by the success of UPI, expanding digital payment infrastructure, and deepening internet penetration. Most UPI transactions now originate from non-metro regions, indicating a high level of digital adoption and financial participation. Probus notes that this is not a temporary or seasonal trend, but a consistent pattern of growth observed over the past three consecutive fiscal years – rising from 58% to 62%, reflecting a sustained upward momentum. In FY2024-25 alone, the Motor Insurance segment registered the highest growth at 25.6%, fuelled by rising awareness, digital accessibility, and a strengthened PoSP (Point-of-Sale Person) network. Local distribution models, especially those built on app-based onboarding, regional language interfaces, and education-first selling, have played a key role in bringing insurance products closer to underserved consumers. What was once a passive, compliance-driven purchase is now increasingly seen as a proactive financial planning tool in Tier-III cities and beyond. The report also highlights strong momentum across insurance verticals for FY 2024-25 compared to FY 2023-24, with life insurance premiums growing by over 60% in fresh policies. Non-life insurance premiums, led by motor, health, and SME segments, showed significant growth, with SME insurance emerged as the fastest-growing segment in FY 2024-25, registering a 112% increase. Commenting on the findings, Rakesh Goyal, Director, Probus, said, 'At a global level, the Indian economy has shown remarkable resilience despite external headwinds. A key reason behind this strength is the steady rise of Tier-II and Tier-III cities, and our latest data confirms that. At Probus, we are proud to be aligned with the Government of India's vision of 'Insuring India by 2047.' We've built digital tools and strengthened our PoSP models to deliver seamless, contextual insurance solutions to the emerging consumer in India.' The company's robust PoSP network continues to be the vital bridge connecting underserved markets to comprehensive insurance solutions, driving Probus's mission to empower every corner of India with financial security.
Time of India
19 minutes ago
- Time of India
Dollar lingers near 3-1/2-year low as traders bet on US rate cuts
The dollar drifted on Friday, hovering near its lowest level in 3-1/2 years against the euro and sterling, as traders wagered on deeper U.S. rate cuts while awaiting trade deals ahead of a July deadline for President Donald Trump's tariffs . Market focus this week has been on U.S. monetary policy. The prospect of Trump announcing the next Federal Reserve Chair, who is expected to be more dovish, earlier than usual to undermine the current chair Jerome Powell has raised odds of the central bank cutting rates. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Il gioco di fattoria più rilassante del 2025. Nessuna installazione Taonga: la fattoria sull'isola Gioca Undo Powell, whose term ends in May, was also interpreted as being more dovish this week in testimony to U.S. Congress, adding to expectation of more rate cuts. Traders are now pricing in 64 basis points of easing this year versus 46 bps expected on Friday. "The sooner a replacement is announced for Powell, the sooner he could be perceived to be a 'lame duck'," said Carol Kong, a currency strategist at Commonwealth Bank of Australia . The Wall Street Journal reported on Wednesday that Trump has toyed with the idea of selecting and announcing Powell's replacement by September or October, a move analysts say could lead to the person operating as a shadow Fed chair, undermining Powell's influence. Live Events Trump has not decided on a replacement for Powell and a decision is not imminent, a person familiar with the White House's deliberations told Reuters on Thursday. "Such an outcome could introduce some volatility into financial markets if the nominee makes public comments markedly different to the current chair," CBA's Kong said. "For now, expectations President Trump will choose a more dovish chair will keep downward pressure on FOMC pricing and the USD." The euro was steady at $1.1693 in early trading after hitting $1.1745 in the previous session, its highest since September 2021. Sterling last fetched $1.3733, just below the October 2021 top of $1.37701 touched on Thursday. The dollar index, which measures the U.S. unit versus six other currencies , was lingering near its lowest since March 2022 at 97.378, on course for a 2% decline in June, its sixth straight month in the red. The index has dropped more than 10% this year as Trump's tariffs stoke U.S. growth worries, leading investors to look for alternatives. The yen was a bit weaker at 144.73 per dollar, while the Swiss franc was last at 0.8013 per dollar, perched near its strongest level in a decade. Investor attention will also be on progress on trade deals ahead of the July 9 deadline for Trump's "reciprocal" tariffs as nations scramble to get an agreement over the line with the clock ticking. German Chancellor Friedrich Merz said on Thursday the EU should do a "quick and simple" trade deal with the United States rather than a "slow and complicated" one. A White House official said on Thursday the U.S. has reached an agreement with China on how to expedite rare earths shipments to the United States.
Time of India
19 minutes ago
- Time of India
Market bets on a more dovish Fed as Trump eyes Powell's replacement
The gulf between where the Federal Reserve projects interest rates will be by the end of 2026 and the more aggressive cutting financial markets expect by then is partly due to the expectation that U.S. central bank chief Jerome Powell will be replaced by somebody more dovish next year, investors said. They, however, cautioned against assuming that a change of guard at the Fed would necessarily deliver as much policy easing as markets and U.S. President Donald Trump expect. In new economic projections released last week, Fed policymakers penciled in three quarter-percentage-point cuts by December 2026. That's two cuts short of the roughly 125 basis points of easing that fed funds futures suggest. The fed funds rate is what banks charge each other for overnight lending, and serves as the Fed's main policy lever. It has stood in the 4.25%-4.50% range since the last easing in December. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 점점 커지는 모공들, 헛돈 쓰지말고 집에서 이렇게 해보세요 미그닥 Two of the projected quarter-percentage-point cuts were for 2025, with one more next year. While the difference stems from several factors, including expectations for how Trump's tariffs will affect the economy and inflation, hopes for a more accommodative Fed chief are part of the mix, investors said. "Powell's term is up in May, and he could be replaced by someone super friendly to the administration," Jack Ablin, chief investment officer of Cresset Capital in Chicago. Live Events "I think this is probably a bigger factor than a lot of investors believe," Ablin said. Trump has not decided on a replacement for Powell and a decision isn't imminent, a person familiar with the White House's deliberations said on Thursday. Chicago Fed President Austan Goolsbee told CNBC any move to name a "shadow" chair would be ineffective. On Monday, traders in futures tracking the Secured Overnight Financing Rate (SOFR), another key overnight rate, pushed the implied yield of futures contracts maturing in December 2026 65 basis points (bps) below those expiring in December 2025, the most negative that spread has ever been. This development shows that a deeper economic slowdown than expected is also being priced in. Powell told Congress this week that higher tariffs could boost inflation this summer, and that the U.S. central bank isn't rushing to cut rates. Trump, who has repeatedly called for rate cuts , said on Tuesday that U.S. rates should be lowered by at least two to three percentage points. On Wednesday, he called Powell "terrible" in his latest attack on the central bank chief and said he has three or four people in mind as contenders for the top Fed job. "The administration is now laying the groundwork - including with the 'One, Big, Beautiful Bill' - to turbocharge economic, job, and investment growth, and it's high time for monetary policy to complement this agenda and support America's economic resurgence," White House spokesperson Kush Desai said. Trump has toyed with the idea of selecting and announcing Powell's replacement by September or October, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Such a move would mean Powell would have a "shadow" for possibly the last six meetings of his tenure. A battered dollar took another beating on Thursday as investors fretted over fresh signs of an erosion in U.S. central bank independence. Still, such a move would back the market's more dovish view on future rate cuts. "It's a reasonable thesis that Trump will put up a person that will be more amenable to lower rates," said Mark Malek, chief investment officer of Siebert Financial. FED INDEPENDENCE According to online prediction market Polymarket, the top candidates to replace Powell are Fed Governor Christopher Waller, former Fed Governor Kevin Warsh , White House economic adviser Kevin Hassett, Treasury Secretary Scott Bessent and Judy Shelton, a former Trump pick for the Fed's Board of Governors whose nomination was withdrawn during the Biden administration. Another prediction site, Kalshi, lists Waller as having the best chance to be nominated, closely followed by Warsh. Waller recently said he felt the inflation risk from tariffs was small and that the Fed should cut rates as soon as its next meeting in July. Meanwhile, Warsh suggested last month a possible pathway to lower policy rates and criticized the Fed's conduct of monetary policy. Still, investors warned that the head of the Fed is only one of 12 voting members at the central bank's monetary policy meetings. Part of the role is to build consensus with a large group of policymakers, making excessive reliance on that person's ability to deliver lower rates risky. "Obviously the chair has a very big influence on what the committee does, but the chair is not the committee," Siebert Financial's Malek said. "The chair will always try to seek a consensus," he said. Nor is it a given that the next Fed chief would risk the central bank's independence. "The most important part about the Fed is its neutrality," said Jay Woods, chief global strategist at Freedom Capital Markets. "For the next Fed chair to get appointed, yes, you want to appease the president to get that nomination. But you still have to get everyone in that room to be behind a common narrative," Woods said. A rate-cutting trajectory not backed by data would hurt the next Fed chief's image, analysts said. "Whoever is appointed may have a cloud cast over his or her term that President Trump is pulling the strings," said Brian Jacobsen, chief economist at Annex Wealth Management. "I'm not too worried that we're going back to a period where the chair is in the pocket of the president, like under (President Richard) Nixon."
