OSM will raise USD 200 million to expand its EV and drone businesses.

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Updated On: 09-May-2023 07:05 AM

OSM is also in talks to finance $100 million in debt and equity to accelerate the growth of its core electric vehicle business.

OSM is also in talks to finance $100 million in debt and equity to accelerate the growth of its core electric vehicle business.

Omega Seiki Mobility is in talks with private equity firms and banks. The company wants to expand its electric vehicle business and manufacture commercial drones.

Anglian Omega Group Company has begun discussions with private equity companies about raising $10 million over the next two years for its newly founded drone manufacturing startup Suryoday Aerial Vehicles Pvt Ltd, according to its founder Uday Narang.

OSM is also in talks to finance $100 million in debt and equity to accelerate the growth of its core electric vehicle business.

OSM's drones, which were created in partnership with a European company, have recently completed testing and are awaiting regulatory approval. They will be ready for commercial release in three months.

OSM is one of the popular 3-wheeler brands in India, especially in manufacturing electric vehicles at affordable prices. The company has manufactured and introduced many promising electric vehicles for e-commerce and last-mile delivery needs. The registered head office of Omega Seiki Mobility is in New Delhi.

This privately held company was founded by Uday Narang in 2018. Moreover, it's on the list of the companies that introduced one of India's first smart cargo 3-wheelers. It has also launched the refrigerated vehicle Rang+ Frost to help food and pharmaceutical businesses to move their goods efficiently.