Geospatial Startup Matrix Geo Secures Pre-IPO Funding

SUMMARY

IntelliFin Non-public Restricted acted as the only real funding banker to the corporate

Matrix Geo Options develops drone-based options for enterprises

The corporate has additionally delivered companies to a variety of sectors, together with railways, roadways, ropeways, irrigation, agriculture amongst others

Drone and spacetech-based geospatial startup Matrix Geo Options has bagged near $1 Mn (round INR 10 Cr) in its pre-IPO funding spherical led by Chittorgarh Infotech Restricted, together with participation from Viney Fairness Markets LLP, Tryrock Capital and Belief AIF.

Following this, the New Delhi-based firm is now seeking to file DRHP quickly for SME IPO.

It plans to make use of the recent capital to scale up its progress and faucet on a bigger market share within the drone companies sector in India and abroad.

IntelliFin Non-public Restricted acted as the only real funding banker to the corporate.

Based by Amit Sharma and Rahul Jain in 2008, Matrix Geo Options develops drone-based options for enterprises. Its providing contains LiDAR-M which is a light-weight detection and information processing software program constructed on Microsoft. Its use instances are aerial images, asset inspection, Lidar survey and extra.  

“We’re delighted to efficiently full the pre-IPO funding spherical and wish to specific our gratitude to the eminent traders who confirmed religion in Matrix Geo” , mentioned Sharma.

The corporate has additionally delivered companies to a variety of sectors, together with railways, roadways, ropeways, irrigation, agriculture, hydropower, metro tasks, mining, city planning, solar energy, inspections, and Surveillance.

 Matrix Geo Options additionally claims to have launched drone academy of India, an academic initiative geared toward constructing capability and increasing market attain. 

The academy supplies sensible, industry-focused drone and house expertise coaching for college kids, main infrastructure firms, and authorities businesses. 

The dronetech house in India has seen a number of developments just lately.

For example final week drone startup Airbound raised $1.7 Mn (about INR 14.34 Cr) in its seed funding spherical led by Lightspeed, with participation from gradCapital and different angel traders.

In July, Bengaluru-based drone startup Aereo (previously Aarav Unmanned Methods) raised $15 Mn in its Collection B funding spherical led by 360 ONE Asset, with participation from StartupXseed Ventures and Navam Capital.

Based on an Inc42 report India’s drone tech panorama is quickly increasing, providing a big market alternative. Launch of 200+ drone tech startups, a powerful tally of greater than 13K registered drones nationwide and two listed drone tech startups, underscores the huge potential for additional innovation and improvement.

The homegrown drone tech market is projected to develop to a measurement of $13 Bn by 2030.