PE-VC Fund Investments
RDI Fund to lend Rs.151-Cr to drone-tech co. IdeaForge
Publicly listed, Mumbai-based IdeaForge Technology is to raise INR 151 crore in long-term debt financing under the Government of India's Research, Development and Innovation (RDI) scheme. The financing is provided at a nominal interest rate to facilitate the development of the firm's heavy-lift autonomous aerial platform.Founded in 2007 by Ankit Mehta, Rahul Singh, and Ashish Bhat, ideaForge Technology manufactures drones and is currently expanding its portfolio into AI-enabled autonomous logistics systems. The firm intends to use the capital to develop YETI, a fixed-wing vertical take-off and landing hybrid aircraft capable of carrying payloads of up to 200 kg over distances of up to 200 km.
Between Feb 2015 and Apr 2022, Ideaforge had attracted about $39-M from Celesta Capital, IndusAge Partners, Infina Capital, Infosys Innovation Fund, Qualcomm Ventures, Others. It went public in Jul 2023.For FY26, Ideaforge had reported about INR 227 Cr in Operating Income and about INR 7 Cr in Net Loss.
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