Reliance Makes Strategic Investment in Skytran Inc.
(World News Science)

RELIANCE MAKES STRATEGIC INVESTMENT IN SKYTRAN INC. Mumbai (India), 17th October 2018: Reliance Industrial Investments and Holdings Limited, a wholly owned subsidiary of Reliance Industries Limited ("Reliance"), today successfully acquired 12.7% shareholding (on fully diluted basis) in SkyTran Inc. ("SkyTran"), a US incorporated venture-funded technology company developing state of the art technology in the field of Personal Rapid Transit Systems. Reliance has made a strategic investment into SkyTran as part of SkyTran`s recently concluded Preferred Stock financing, with an option to further invest an amount upto USD 25 million in convertible notes, subject to SkyTran`s...