Indian Oil | IMR https://imrmedia.in/tag/indian-oil/ Indian Military Review, Defense News, Indian Defence Review Fri, 19 Aug 2022 11:46:15 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 https://imrmedia.in/wp-content/uploads/2020/04/cropped-IMR-Logo-512x512-px-32x32.jpg Indian Oil | IMR https://imrmedia.in/tag/indian-oil/ 32 32 ideaForge raises $20 mn from Florintree, Infosys https://imrmedia.in/ideaforge-raises-20-mn-from-florintree-infosys/ https://imrmedia.in/ideaforge-raises-20-mn-from-florintree-infosys/#respond Sun, 15 May 2022 11:14:00 +0000 https://imrmedia.in/?p=14020 Drone manufacturer ideaForge has closed its Series B funding round of $20 million led by Florintree, a company led by Mathew Cyriac, the former private equity co-head for Blackstone India. The round also saw participation from the company’s existing investors Celesta, a prominent technology investment fund, Infosys, Qualcomm and Infina, along with the Exim Bank […]

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]]> Drone manufacturer ideaForge has closed its Series B funding round of $20 million led by Florintree, a company led by Mathew Cyriac, the former private equity co-head for Blackstone India.

The round also saw participation from the company’s existing investors Celesta, a prominent technology investment fund, Infosys, Qualcomm and Infina, along with the Exim Bank of India.

Founded in 2007 by IIT Bombay alumni, ideaForge has over 15 years of research and development (R&D) history and it owns more than 20 global patents. Its customers include the Indian military, Adani group, L&T, Indian Oil, Survey of India, Indian Railways, among others.

“ideaForge has grown 10X in the last two years and we will use this funding to invest in R&D, international expansion and building a world-class team. We want to continue to create high performance, reliable and autonomous drones that inspire the adoption of this technology,” Co-founder and CEO Ankit Mehta said.

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