Financials
| Year | Revenue (In crores) | Profits/Loss (In crores) | Ref. |
|---|---|---|---|
| FY 2021 |  35 | [21] | |
| FY 2022 | 159 | ||
| FY 2023 | 186 | 32 | |
| FY 2024 | 317 | 48 |
| 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] [3]
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). [4]
ideaForge was established in 2007 in Mumbai by IIT Bombay graduates, Ankit Mehta, Rahul Singh and Ashish Bhat. [5] [6]
In 2009, it launched its first autonomous micro unmanned aerial vehicles with a quadrotor configuration. [7]
In July 2023, the company raised ₹255 crore (US$29 million) from 31 anchor investors by allocating 37.92 lakh equity shares to anchor investors. [8] It opened its initial public offering (IPO) with an Offer For Sale (OFS) of ₹567 crore (US$66 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. [9] [10] [11] The IPO gained a premium of 94% to the issue price of ₹1,296 on the opening day. [12] [13]
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. [14]
The company manufactures drones for mapping, security, and surveillance applications [15] assisting defence forces in conducting intelligence, surveillance, and reconnaissance (ISR) operations along borders. [16] The company majorly caters to the central armed police forces, armed forces, state police departments, forest departments, disaster management forces, and civil customers. [17]
| Year | Revenue (In crores) | Profits/Loss (In crores) | Ref. |
|---|---|---|---|
| FY 2021 | 35 | [21] | |
| FY 2022 | 159 | ||
| FY 2023 | 186 | 32 | |
| FY 2024 | 317 | 48 |
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. [22]