Drone maker ideaForge raises $20-M from Florintree, Infosys, others

Mumbai-based drone maker ideaForge has raised a Series B funding round of USD 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 technology investment fund, Infosys, Qualcomm and Infina, along with the Exim Bank of India. ideaForge will use these funds to invest in R&D, international expansion and for building a team.