Infosys Invests in ideaForge

Software giant Infosys has said it has invested in a Mumbai based drone firm “ideaForge,” which counts India’s armed and paramilitary forces as its crucial customers.
Infosys, which has made an undisclosed investment through its innovation fund,is also planning to use ideaForge’s indigenous drones and the data acumens to provide industrial solutions to its global clients.
ideaForge’s UAVs are fully loaded with capabilities of high endurance, autonomous operation, and image intelligence with live feed, which have been used by the Indian Armed Forces for surveillance, rescue operations and crowd monitoring. These are also used by Maharashtra Police, Gujarat Police, BSF, NDRF and other commercial applications in verticals such as agriculture, energy utilities and telecom. ideaForge has incubated at IIT Bombay in 2007 and then expanded its business globally.
“ideaForge’s high performance UAVs are designed and manufactured in India, have significant potential in industrial use cases. We are looking forward to work with ideaForge and bring their expertise, technology and solutions to our clients to crack new business insights from operational data that has earlier been challenging to obtain,” said Ritika Suri, Executive VP & Global Head of Corporate Development & Ventures, Infosys.
IndusAge and WRV Capital also participated in the round with Infosys, and have collectively invested a total sum of Rs 70 crore in the Mumbai firm.
Infosys has $ 500 million earmarked in the innovation fund to invest in startups that look at disruptive technologies.

Related Posts