Matrix Geo Solutions, a Delhi-based geospatial firm specializing in drone and space technology, has successfully raised nearly $1 million in its pre-IPO funding round. Key investors include Chittorgarh Infotech Limited, Viney Equity Markets LLP, and Tryrock Capital Trust AIF . The company is now preparing to file its Draft Red Herring Prospectus (DRHP) for an SME IPO in the near future.
The funds will be utilized to drive growth and expand market share within India’s booming drone services industry and overseas markets.
Established in 2008 by Amit Sharma and Rahul Jain, Matrix Geo Solutions leverages cutting-edge drone and satellite technology to assist clients in planning, monitoring, and managing projects. Their solutions are designed to improve efficiency, reduce costs, and enhance decision-making processes.
Over the years, the company has made significant strides across diverse industries, offering its services to Railways, Roadways, Irrigation, Agriculture, Mining, Urban Planning, Solar Energy, and more.
Additionally, Matrix Geo recently introduced the “Drone Academy of India,” an initiative aimed at nurturing talent and promoting innovation in the drone and space technology sectors. The academy focuses on practical, industry-relevant training for students, major infrastructure firms, and government organizations.
This development follows a broader trend of investment in drone technology, with Airbound, another drone startup, recently securing $1.7 million in a seed round led by Lightspeed.