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ideaForge Technology Limited is an Indian
unmanned aerial vehicle (UAV) commonly known as a drone manufacturer company established in 2007 and headquartered in Mumbai.[2] It designs and manufactures drones for mapping, security, and surveillance application.[3] It is backed by
Infosys,
Qualcomm, Celesta, Florintree,
EXIM Bank, Indusage Technology Venture Fund, and Infina Finance.[4]
In Dec 2022, ideaForge ranked 7th globally in the dual use category that is civil and defence as per the report published by Drone Industry Insights.[5]
History
ideaForge was established in 2007 in Mumbai in Mumbai by IIT Bombay graduates Ankit Mehta, Rahul Singh and Ashish Bhat.[6][7]
In 2009, the company launched its first fully autonomous micro unmanned aerial vehicles (UAV) with a quadrotor configuration.[8]
In 2020, the company received a $20 million order from the Indian Army for its SWITCH UAVs, which is a vertical takeoff and landing (VTOL) UAV that can operate at high altitudes and difficult climatic conditions for day and night surveillance.[9]
In Jul 2023, the company raised ₹255 crore (US$31 million) from 31 anchor investors by allocating 37.92 lakh equity shares to anchor investors.[10] It opened its
initial public offering (IPO) with an Offer For Sale (OFS) of ₹567 crore (US$68 million) comprised with ₹240 crore fresh issue and ₹327 crore by promoters and investors up to 48.69 lakh equity shares worth in
BSE &
NSE on 7 July 2023.[11][12][13] The IPO gained a premium of 94% to the issue price of ₹1,296 on the opening day.[14][15]
In 2024, the ideaForge partnered with Skylark Labs, a US based Artificial Intelligence (AI) solutions company to integrate self-evolving drones AI capabilities for public safety and security applications. It will help drones autonomously detect and identify suspicious weapons, persons, vehicles, fires, and smoke in real-time.[16]
Products and services
The company manufactures drones for mapping, security, and surveillance applications[17] assisting defence forces in conducting intelligence, surveillance, and reconnaissance (ISR) operations along borders.[18] The company majorly caters to the central armed police forces, armed forces, state police departments, forest departments, disaster management forces, and civil customers.[19]
DRDO Netra - jointly developed by the Research and Development Establishment (R&DE)[20]
Switch UAV, Netra V4 UAV, Q6 UAV, Ninja UAV, Q4i UAV, and Ryno UAV products specialised with in extreme temperatures (-20°C to +50°C), marine environment, dusty weather conditions and high humidity.[21]
In 2023, the company has indigenously developed Fixed-wing VTOL UAV - SWITCH UAV that can fly at diverse terrains and harsh environments, ranging from -30 °C to +55 °C for a variety of security and surveillance applications.[23]
References
^"Leadership". ideaForge Technology official website. Retrieved 31 December 2023.