ideaForge
| Company type | Public |
|---|---|
| Industry | Unmanned aerial vehicle (UAV) |
| Founded | 2007 |
| Headquarters | Mumbai, Maharashtra, India |
Area served | Worldwide |
Key people |
|
| Products | DRDO Netra with (R&DE) |
| Website | ideaforgetech |
| Footnotes / references [1] | |
ideaForge Technology Limited is an Indian unmanned aerial vehicle (drone) manufacturer established in 2007 in Mumbai, India.[2]
In December 2023, ideaForge ranked 5th in the dual use category that is civil and defence as per the report published by Drone Industry Insights (7th in December 2022).[3]
History
[edit]ideaForge was established in 2007 in Mumbai by IIT Bombay graduates, Ankit Mehta, Rahul Singh and Ashish Bhat.[4][5]
In 2009, it launched its first autonomous micro unmanned aerial vehicles with a quadrotor configuration.[6]
In July 2023, the company raised ₹255 crore (US$31 million) from 31 anchor investors by allocating 37.92 lakh equity shares to anchor investors.[7] 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.[8][9][10] The IPO gained a premium of 94% to the issue price of ₹1,296 on the opening day.[11][12]
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.[13]
Products and services
[edit]The company manufactures drones for mapping, security, and surveillance applications[14] assisting defence forces in conducting intelligence, surveillance, and reconnaissance (ISR) operations along borders.[15] The company majorly caters to the central armed police forces, armed forces, state police departments, forest departments, disaster management forces, and civil customers.[16]
- DRDO Netra - jointly developed by the Research and Development Establishment (R&DE)[17]
- 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.[18]
Financials
[edit]| Year | Revenue (In crores) | Profits/Loss (In crores) | Ref. |
|---|---|---|---|
| FY 2021 |  35
|
[19] | |
| FY 2022 | 159
|
||
| FY 2023 | 186
|
32
| |
| FY 2024 | 317 | 48 |
Awards and recognitions
[edit]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.[20]
References
[edit]- ^ "Leadership". ideaForge Technology official website. Retrieved 31 December 2023.
- ^ "Drone maker ideaForge Technology files IPO papers with SEBI". The Hindu. 2023-02-11. ISSN 0971-751X. Retrieved 2023-12-31.
- ^ "India's largest drone maker IdeaForge files for Rs 750 crore IPO: All you need to know". The Times of India. 2023-02-13. ISSN 0971-8257. Retrieved 2023-12-31.
- ^ Bisht, Paras (2023-07-02). "ideaForge IPO allotment date: Direct link to check subscription status on Link Intime, BSE; check share price listing date, time on NSE, BSE". TimesNow. Retrieved 2023-12-31.
- ^ Oberoi, Rahul (2023-06-22). "ideaForge IPO: How 26/11 terror attack motivated IIT Bombay students to found India's largest drone company". Business Today. Retrieved 2024-05-05.
- ^ Saha, Kairavi Lukka & Soumyajit (2023-06-21). "Ideaforge IPO expected to fuel drone startup's flight". The Economic Times. ISSN 0013-0389. Retrieved 2024-05-05.
- ^ Narayanan, KS Badri (2023-07-07). "ideaForge Technology to list on bourses today". BusinessLine. Retrieved 2023-12-31.
- ^ Sonawane, Ruchita (2023-07-08). "IdeaForge lists at 94% above its IPO price". The Economic Times. ISSN 0013-0389. Retrieved 2023-12-31.
- ^ KUMAR, CHITRANJAN (2023-07-10). "IdeaForge makes blockbuster debut; lists at 94% premium". www.fortuneindia.com. Retrieved 2023-12-31.
- ^ Nagasundaram, Dhanya (2023-07-07). "IdeaForge Technology IPO listing: Stock lists at a premium of 93% on NSE". mint. Retrieved 2023-12-31.
- ^ "IdeaForge soars 94% on debut, settles at Rs 1,295.50 on BSE from issue price of Rs 672". www.telegraphindia.com. Retrieved 2023-12-31.
- ^ Matkar, Sunil Shankar (2023-07-07). "Bumper listing | Ideaforge Technology debuts with 94% premium". Moneycontrol. Retrieved 2023-12-31.
- ^ "ideaForge partners with Skylark to integrate self-evolving AI capabilities into drones". The Hindu. 2024-05-29. ISSN 0971-751X. Retrieved 2024-07-09.
- ^ Sonawane, Ruchita (2023-07-08). "IdeaForge lists at 94% above its IPO price". The Economic Times. ISSN 0013-0389. Retrieved 2023-12-31.
- ^ Matkar, Sunil Shankar (2023-07-06). "IdeaForge Technology on track for big bang start on July 7, may list at 75% premium over IPO price". Moneycontrol. Retrieved 2023-12-31.
- ^ "Drone maker ideaForge IPO to open on June 26; sets price band at Rs 638-672 per share". The Indian Express. 2023-06-21. Retrieved 2023-12-31.
- ^ "DRDO develops UAV 'Netra' to aid anti-terror operations". article.wn.com. Retrieved 2023-12-31.
- ^ "India's largest drone maker IdeaForge files for Rs 750 crore IPO: All you need to know". The Times of India. 2023-02-13. ISSN 0971-8257. Retrieved 2024-05-05.
- ^ Bhutra, Sonal (2023-10-10). "ideaForge Inside Out: Drone firm sets focus on new products and tech for next flight phase". CNBCTV18. Retrieved 2023-12-31.
- ^ PIB, Delhi (14 May 2023). "TDB/DST confers National Technology Awards upon Industries, Entrepreneurs & Scientists at National Technology Awards ceremony on closing day of NTW 2023". Indian Government (PIB). Retrieved 5 May 2024.