Drone-Tech Innovator Matrix Geo Secures $1M Pre-IPO Investment

Matrix Geo Solutions has raised $1 million in its pre-IPO funding round. Renowned investors such as Chittorgarh Infotech Limited, Viney Equity Markets LLP, and Tryrock Capital Trust AIF participated in the round, with IntelliFin Private Limited serving as the sole investment banker.

The funds will enable Matrix Geo to expedite growth initiatives, expand its market presence, and file its Draft Red Herring Prospectus (DRHP) for an upcoming SME IPO. The company aims to capitalize on the booming drone services sector, both domestically and internationally.

Driving Innovation in Drone Technology

Established in 2008 by Amit Sharma and Rahul Jain, Matrix Geo Solutions empowers industries with advanced drone and satellite technologies for planning, monitoring, and management. The company’s services optimize efficiency, reduce costs, and enhance decision-making processes.

Matrix Geo has been pivotal in advancing drone-based solutions across diverse sectors such as:

• Infrastructure: Railways, roadways, and metro projects
• Energy: Solar power and hydropower
• Urban Planning: Mining, irrigation, and agriculture
• Inspections: Ropeways, surveillance, and more

Key Milestones and Vision

Matrix Geo has played a crucial role in several landmark projects, including:

• Indian Railways' High-Speed Rail Corridor
• Bharatmala Road Project
• Hemkund Sahib Ropeway Project
• The world's highest railway bridge over the Chenab River
• India’s largest solar power project

Clients include prominent organizations such as Indian Railways, World Bank, NHAI, DMRC, and industry leaders like L&T, Tata, and Adani.

Amit Sharma, Co-founder of Matrix Geo, stated: “We are delighted to successfully complete the pre-IPO funding round and would like to express our gratitude to the eminent investors who showed faith in Matrix Geo. Ever since the Indian government regulated drone usage in 2021, we’ve seen a massive surge in adoption across government and private sectors. Matrix Geo is committed to utilizing the fundraise in leading this transformation.” 

Investor Anant Aggarwal, Managing Partner at Viney Equity Markets LLP, expressed confidence in Matrix Geo: “Matrix Geo Solutions is clearly riding the wave of the future with their drone technology. Given the growing scope of this technology, along with favorable regulations, we foresee immense potential for a solution provider like Matrix Geo. We wish the team the best and look forward to them disrupting the sector with their top-of-the-line offerings.” 

Launching the Drone Academy of India

Matrix Geo recently launched the Drone Academy of India, an initiative focused on equipping students, government agencies, and businesses with hands-on training in drone and geospatial technologies. This academy aims to nurture talent and expand the adoption of drone tech across industries.

As Matrix Geo prepares for its SME IPO, the company is set to redefine geospatial solutions and drive innovation in the global drone-tech ecosystem.

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