Omega Seiki to raise $200 million to boost its EV & drones business

Omega Seiki Mobility (OSM) is in talks with private equity firms and banks for funds to expand its electric vehicles (EVs) business and begin commercial manufacturing of drones. Anglian Omega Group company has initiated talks with private equity firms to raise $100 million over the next two years for its newly established drone manufacturing firm, Sooryauday Aerial Vehicles Pvt Ltd, the company’s founder, Uday Narang, told ET. OSM is also in discussions to raise $100 million in a combination of debt and equity to fuel the expansion of its core EV business, he said.