Reliance Industries announced in a December 22 regulatory filing that its wholly-owned subsidiary, Reliance Strategic Business Ventures Limited, has acquired a 23.3% stake in US-based Exyn Technologies Inc for $25 million.

Reliance Strategic Business Ventures acquired a stake in Exyn, a company developing autonomous aerial robotic systems. Reliance will make investments and strategic moves in drones, industrial safety and robotics, the company said in a statement.

It also said the deal would accelerate Exyn’s product and technology development and commercialization across multiple application areas.

Reliance’s statement further mentioned that the stake acquisition does not require applicable statutory government approval. It was clarified that RIL’s promoters/promoter group/group companies are still interested in the transaction.