Drone tech company ideaForge announced that it now has drones taking off every two minutes on average to carry out customer missions. It reported this along with the company’s recent revenue numbers. The drone maker said it has crossed one million customer flights across different terrains and operating conditions, while executing more than 20% of its opening FY27 order book.
The Mumbai-based company announced its audited results for the quarter ended June 30. It reported revenue of ₹68.6 crore and EBITDA of ₹4.3 crore, while posting a net loss of ₹2.6 crore.
It said global supply chain disruptions and component shortages continued to affect deliveries, but it remains on track to complete its opening FY27 order book by the third quarter.
During the quarter, ideaForge also secured DGCA Type Certification for its Q6V2 GEO UAV. It raised ₹500 crore through a qualified institutional placement and received a Letter of Intent from the government for financial assistance of up to ₹151 crore under the Research, Development and Innovation Scheme. The funding will support the development of its YETI middle-mile logistics platform.
Commenting on the results, Co-Founder and CEO Ankit Mehta said the company entered FY27 with an order book of more than ₹300 crore and is working towards fulfilling deliveries in line with customer timelines.
“We have made good progress in our development efforts of combat drone capabilities such as air-launched effects and fuel-hybrid long-endurance capability for ZOLT. We are also actively developing long-range strike platforms, loitering munitions, and other capabilities through in-house and collaborative developments,” Mehta said.
He said higher procurement limits for field commanders under DFPDS 2026 could accelerate procurement activity in the third and fourth quarters. He also pointed to public reports of nearly ₹20,000 crore in fast-track defence procurement opportunities, with one already at the request-for-proposal stage.
- Coforge Revenue Rises 54% as AI Engineering and Deal Bookings Gain Momentum
- Tech Mahindra Partners With SpaceXSI to Bring AI Into Software Engineering
- Infosys AI Revenue Rises 29% in Q2, FY27 Growth Guidance Cut
- LTM Launches BlueVerse Industrial AI Lab in Chennai
- Chariot Launches Speech Recognition Model for 10 Indian Languages
- Meta Expects Up To $145 Billion In Capex As AI Investments Expand