Indian drone manufacturer ideaForge raises USD 20 Mn

ideaForge customers also include the Indian Navy, Air Force, State Police Forces, BSF, NSG, CRPF, Adani, L&T, Indian Oil, Survey of India, and the Indian Railways.

India’s drone manufacturer, ideaForge, has closed its Series B funding round of USD 20 Million led by Florintree, helmed by the former Blackstone India private equity Co-Head, Mathew Cyriac. 

ideaForge has more than 15 years of research and development with 20+ global patents and dominates the Indian market. Its drones are deployed for a mission every six minutes by the Defence Ministry, Homeland Security, and enterprise customers. ideaForge is the first Indian OEM and has bagged repeated contracts from the Indian Army for its SWITCH UAVs. Its customers include the Indian Navy, Air Force, State Police Forces, BSF, NSG, CRPF, Adani, L&T, Indian Oil, Survey of India, Indian Railways, etc. 


Sign up for your weekly dose of what's up in emerging technology.

ideaForge Co-founder & CEO Ankit Mehta said, “ideaForge is happy to be associated with Florintree, which has a track record of helping organisations unlock enterprise value. ideaForge has grown 10X in the last two years, and we will use these funds to invest in R&D, international expansion and building a world-class team. We want to continue creating high-performance, reliable and autonomous drones that inspire the adoption of this technology.”

Mathew Cyriac, executive chairman at Florintree Advisors, said, “Florintree has been tracking the drone sector closely for the last two years, and ideaForge is one of the few globally competitive full-stack players in the sector with scale and profitability. We expect ideaForge to focus on building indigenous hardware within house software subsystems to gain an outsized market share in a rapidly growing industry.” 

More Great AIM Stories

Poornima Nataraj
Poornima Nataraj has worked in the mainstream media as a journalist for 12 years, she is always eager to learn anything new and evolving. Witnessing a revolution in the world of Analytics, she thinks she is in the right place at the right time.

Our Upcoming Events

Masterclass, Virtual
How to achieve real-time AI inference on your CPU
7th Jul

Masterclass, Virtual
How to power applications for the data-driven economy
20th Jul

Conference, in-person (Bangalore)
Cypher 2022
21-23rd Sep

Conference, Virtual
Deep Learning DevCon 2022
29th Oct

3 Ways to Join our Community

Discord Server

Stay Connected with a larger ecosystem of data science and ML Professionals

Telegram Channel

Discover special offers, top stories, upcoming events, and more.

Subscribe to our newsletter

Get the latest updates from AIM

What can SEBI learn from casinos?

It is said that casino AI technology comes with superior risk management systems compared to traditional data analytics that regulators are currently using.

Will Tesla Make (it) in India?

Tesla has struggled with optimising their production because Musk has been intent on manufacturing all the car’s parts independent of other suppliers since 2017.