Geospatial firm Matrix Geo raises $1-M

Delhi-headquartered spacetech player Matrix Geo Solutions has raised around USD 1 million in its pre-IPO funding round. The round saw participation from Chittorgarh Infotech Limited, Viney Equity Markets, and Tryrock Capital Trust AIF. IntelliFin acted as the sole investment banker to the company.The new funds will be used to accelerate growth and capture a larger market share in the drone services sector in India and abroad.Founded in 2008 by Amit Sharma and Rahul Jain, Matrix Geo Solutions provides geospatial solutions to help customers across Railways, Roads, Water & Irrigation, Mining, Power, in planning, monitoring, and managing through drone and satellite technology.