Infosys invests an undisclosed amount in Indian drone startup ideaForge

Drone startup ideaForge, founded by three IIT Bombay graduates has secured an undisclosed amount of investment from India's second largest software services firm Infosys.

Though Infosys is yet to provide more details, the investment is subject to receipt of regulatory approvals and customary closing conditions.

Ankit Mehta, Co-founder and Chief Executive Officer at ideaForge, said, “We are very excited to have Infosys as an investor and a partner for exploring UAV services and solutions for global customers. This partnership will play an important role in our industrial expansion to address a wide variety of data acquisition and analysis needs.”

Used by the Indian Armed Forces for surveillance, crowd monitoring and rescue operations, ideaForge’s drones also have commercial applications in verticals such as energy, utilities, telecom and agriculture. ideaForge’s drones have fully autonomous operation, failsafe technology, high endurance and can offer image intelligence with a live feed as well as support complex payloads like thermal and high-resolution imagery.

“ideaForge’s high-performance UAVs, which have been designed and built in India, have significant potential in industrial use cases. We are looking forward to working with ideaForge and bringing their technology, expertise, and solutions to our clients to unlock new business insights from operational data that has previously been difficult to obtain,” Ritika Suri, Global Head of Corporate Development & Ventures at Infosys, said in a statement.

Infosys will fund the latest investment through its Innovation Fund, making ideaForge' investment, the company’s eleventh investment out of its $500 million investment fund.

Recently Infosys has invested in firms like US-based TidalScale, Danish artificial intelligence start-up UNSILO and Stellaris Venture Partners.