Before the acquisition by Reliance, Asteria Aerospace has attracted bridge fund investment from a prominent European investment firm Boundary Holding.
Recently, the wholly-owned subsidiary of Mukesh Ambani-led conglomerate RIL – Reliance Strategic Business Ventures Ltd (RSBVL) –announced the acquisition of over 51 per cent stake in Asteria Aerospace. Founded in 2011, 
With sheer determination and hard work of the co-founders of Asteria – Nihar Vartak and Neel Mehta, the startup has evolved some of the world-class drone technologies. The ‘best in class’ flagship drone ‘A400’ which can get flight-ready within two minutes and drone platform based on the industrial internet of things (IIoT) platform called ‘Genesis’, amongst other technologies, have attracted consumers from across the world.
Consequently, Asteria Aerospace successfully attracted bridge fund investment from Boundary Holding in 2018. While commenting on the development, Rajat Khare said, “The infusion of funds by Boundary Holding was instrumental in Asteria’s growth journey and fetched fruitful results for Boundary almost immediately as one of the biggest conglomerates has acquired a majority stake in Asteria. I would like to congratulate Asteria for the recent development. I would also like to congratulate Boundary Holding for making multi-fold exit from Asteria.”
Although a short-term investment option, bridge fund has proved to be instrumental in helping startups to achieve long term goals. The traditional notion of the fund, known as the one which ‘bridges’ interim period where a firm is expecting to infuse funds during the next series of funding round has proved to be the virtue for Asteria Aerospace.
Boundary Holding is a leading European Investment fund which actively invests in AI and deep tech associated technologies. Recently, the firm invested in a Paris-based startup — Internest which provides autonomous technology and precise landing for rotatory wings. German railway analytics startup –KONUX, French deep tech company –Cerbair and Singapore-based facial recognition firm –XRVision are some of the significant fundings made by Boundary Holding.