Financials
| Year | Revenue (In crores) | Profits/Loss (In crores) | Ref. |
|---|---|---|---|
| FY 2021 |  35 | [19] | |
| 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]
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]
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]
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]
| Year | Revenue (In crores) | Profits/Loss (In crores) | Ref. |
|---|---|---|---|
| FY 2021 | 35 | [19] | |
| 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. [20]
Droom Technology Limited is an Indian company that maintains an online marketplace for buying and selling used and new automobiles. Founded in April 2014, the company is based in Gurugram, Haryana and also operates in Singapore, Thailand, and Malaysia, besides 1,161 Indian town and cities. In July 2021, Droom became Unicorn after raising $200 Mn in a pre-IPO funding round at a valuation of $1.2 billion.
Tata Technologies Limited is an Indian multinational technology company engaged in product engineering, that provides services to automotive and aerospace original equipment manufacturers as well as industrial machinery companies. It is a subsidiary of Tata Motors.
The economy of Gujarat, a state in Western India, is the most industrialised in India, having the highest industrial output of any state in the union. It has the highest exports of any Indian state, accounting for 33% of all Indian exports in 2022–23. It leads in diverse industrial sectors such as chemicals, petrochemicals, dairy, drugs and pharmaceuticals, cement and ceramics, gems and jewellery, textiles and engineering. It has the highest Electricity Production Capacity and Maritime Port Cargo Volume among all states in India. It also has significant agricultural production with major agricultural produce of the state being cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Gujarat recorded the lowest unemployment rate in India in 2022, with 4.4% of the labour force being unemployed.
63 Moons Technologies Limited, formerly Financial Technologies (India) Limited until 2016, is an Indian company which provides technology solutions to financial platforms and supports the creation of digital marketplaces.
The Indian Air Force has been undergoing a modernization program to replace and upgrade outdated equipment since the late 1990s to meet modern standards. For that reason, it has started procuring and developing aircraft, weapons, associated technologies, and infrastructures. Some of these programs date back to the late 1980s. The primary focus of current modernization and upgrades is to replace aircraft purchased from the Soviet Union that currently form the backbone of the air force.
JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and founded by Om Prakash Jindal. The group's diverse businesses include steel, energy, infrastructure, cement, automotive and paints, across India, the United States, South America, and Africa.
Godrej Properties Limited is a real estate company with its head office in Mumbai, India and is one of the top three developers in Delhi-NCR, Bangalore, Mumbai & Pune. A subsidiary of Godrej Industries Ltd, the company was established in 1990 under the leadership of Adi Godrej. Godrej Properties Limited (GPL) is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). It operates in Chandigarh, Gurgaon, Ahmedabad, Kolkata, Nagpur, Mumbai, Pune, Hyderabad, Mangalore, Noida, Bengaluru, Chennai and Kochi.
The DRDO Netra is an Indian, light-weight, autonomous UAV for surveillance and reconnaissance operations. It has been jointly developed by the Research and Development Establishment (R&DE), and IdeaForge, a Mumbai-based private firm.
L&T Technology Services (LTTS) is an Indian multinational technology company that provides engineering research and development (ER&D) services, headquartered in Vadodara. The company's business interests include automotive engineering, embedded system and semiconductor engineering, industrial internet of things, manufacturing plant engineering, and medical engineering.
Awfis is a coworking space company headquartered in Delhi, India. Founded by Amit Ramani in 2015, it operates in 16 cities across India.
Stovekraft is an Indian company that manufactures cooking appliances under Skava, Pigeon and Gilma brands. The company was founded in 1999 and is headquartered in Bangalore, Karnataka. Among its cooking appliances are mixer grinders, pressure cookers, cooktops, toasters, chimneys and kitchen utensils. It sells its products in 23 states in India and 12 countries overseas.
ICICI Prudential Life Insurance Company Limited is an Indian life insurance company in India. Established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management business. In 2016, the company became the first insurance company in India to be listed in the domestic stock exchanges.
Indigo Paints Limited is an Indian paint company that is headquartered in Pune, Maharashtra, and has five manufacturing facilities that are located at Jodhpur, Kochi and Pudukkottai. The company is engaged in manufacturing, selling and distribution of decorative paints, Emulsion, enamels, waterproofing & chemical constructions, wood coatings, distemper, primers, putties and cement paints.
Dilip Buildcon Limited (DBL) is an Indian construction and infrastructure development company based in Bhopal. It was founded by Dilip Suryavanshi in 1987 and was incorporated in the Ministry of Corporate Affairs on 12 June 2006. The company is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) since August 2016.
Muthoot Microfin Limited is an Indian microfinance institution (MFI), headquartered in Kochi. It primarily provides unsecured microloans to women in rural areas. It is a part of Muthoot Pappachan Group.
DreamFolks Services Limited is an Indian airport service aggregator company established in 2013 and headquartered in Gurugram. It provides consumers to access airport-related services via technology driven platform.
TeamLease Services Limited is an Indian recruitment and human resources services company established in 2000 with its headquarters in Bengaluru, Karnataka. The company operates nine offices across India, with locations in Bangalore, Mumbai, Pune, Delhi, Ahmedabad, Kolkata, Hyderabad, Chennai, and Bhubaneshwar. It is publicly traded on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Protean eGov Technologies Limited is an Indian technology company headquartered in Mumbai, India. The company focuses on developing digital public infrastructure (DPI) and e-governance initiatives for various governmental bodies in India. It works with central and state governments across multiple sectors including Tax Services, Social Security and Welfare, ID and Data Stack, Open Digital Ecosystem, and Cloud. In 2011, the company was appointed as a registrar for the Unique Identification Authority of India (UIDAI) to issue Aadhaar numbers to residents of the country.
Akums Drugs and Pharmaceuticals Limited is an Indian pharmaceutical Contract Development and Manufacturing Organization (CDMO) that serves both domestic and multinational pharmaceutical companies. The company was established in 2004 and became publicly listed on August 6, 2024.