Stay updated with breaking news from Ideaforge Drones. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
IdeaForge has proposed to use the IPO proceeds to pay off debt and manage working-capital requirements. Analysts feel the future revenue hinges on the execution of the order book. According to them, ideaForge heavily relies on government-aided projects, which poses a significant risk. Slow processing, payment delays from such entities could impact its financials.
We'll soon meet in your inbox. Please wait... IdeaForge, which predominantly builds products for security agencies and defence forces, claims it has deployed over 1,000 drones since its inception. Apart from Infosys, the company counts WRVI Capital and Qualcomm as its investors. “The timing of the funding is opportune as we expect strong growth in our product pipeline. The funds, along with the recent fundraise from Infosys and other investors, will support ideaForge in the execution of our growing order book,” said Ankit Mehta, co-founder and CEO at IdeaForge. A source told ET that the i...