Shares of Colab Platforms Limited gained 2% on Thursday to ₹104.76 after the company announced it has signed a non-binding Memorandum of Understanding (MoU) with RRP Drones Innovation Private Limited to collaborate on AI-powered aerial surveillance drones.

According to the exchange filing, the partnership aims to design, develop, and deploy all-weather, autonomous drones for multiple applications, including agriculture, industrial sites, law enforcement, energy and infrastructure, border patrol, and defence.

The companies plan to incorporate a Special Purpose Vehicle (SPV) to undertake the development and commercialization of these multi-purpose drones. Colab stated that the move marks its strategic foray into the fast-growing drone technology sector, aligning with its vision to expand from digital, sports, fintech, and esports platforms into aerospace and defence technology.

Industry data suggests India's drone sector could touch ₹1.95 lakh crore (US$23 billion) by 2030, supported by government incentives and adoption programs, while the global commercial drone market is projected to reach US$55-90 billion by the same year.

The announcement positions Colab to tap into India's rapidly expanding drone ecosystem, which is being driven by policy support and high demand across industries.