Login

Drone and space tech-based geospatial firm Matrix Geo Solutions raises close to $1 million

| Posted on |

  • Funding Achievement: Matrix Geo Solutions has raised nearly $1 million in a pre-IPO funding round involving investors like Chittorgarh Infotech Limited and Viney Equity Markets LLP.

  • IPO Preparation: Established in 2008 by Amit Sharma and Rahul Jain, the company is gearing up to file its Draft Red Herring Prospectus (DRHP) for an SME IPO to enhance its market presence in the drone services sector.

  • Technological Innovations: The company utilizes advanced drone and satellite technologies to support various sectors, including agriculture, urban planning, and mining, improving planning, monitoring, and decision-making efficiency.

  • Educational Initiatives: Matrix Geo Solutions has launched the Drone Academy of India to provide practical training and promote education in drone and space technologies, targeting students and industry professionals.

Matrix Geo Solutions, a geospatial company specializing in drone and space technologies, has raised nearly $1 million in a pre-IPO funding round.

The funding came from notable investors, including Chittorgarh Infotech Limited, Viney Equity Markets LLP, and Tryrock Capital Trust AIF. IntelliFin Private Limited served as the sole investment banker for the round.

Preparing for IPO launch

The company, established in 2008 by Amit Sharma and Rahul Jain, is preparing to file its Draft Red Herring Prospectus (DRHP) for an SME IPO, aiming to expand its market share in the booming drone services sector in India and globally.

The funds will be directed toward scaling operations and reinforcing its leadership in the sector.

Innovations in geospatial technology

Matrix Geo Solutions leverages cutting-edge drone and satellite technology to support sectors such as railways, roadways, agriculture, mining, urban planning, and solar power.

The company’s offerings enhance planning, monitoring, and decision-making processes, resulting in cost efficiency and improved outcomes. Over the years, Matrix Geo has provided services to a wide array of industries, including irrigation, hydropower, metro projects, and surveillance.

Capacity-building through education

Recently, the company launched the Drone Academy of India, an initiative aimed at promoting education in drone and space technologies.

The academy offers practical, industry-oriented training programs for students, infrastructure firms, and government bodies, aligning with Matrix Geo’s vision to strengthen capacity and boost adoption of its technologies.


Here’s a list of the relevant information extracted from the provided text about Matrix Geo Solutions:

Company:

  • Name: Matrix Geo Solutions
  • Established: 2008

Founders:

  • Amit Sharma
  • Rahul Jain

Funding Details:

  • Amount Raised: Nearly $1 million
  • Funding Series: Pre-IPO funding round

Investors:

  1. Chittorgarh Infotech Limited
  2. Viney Equity Markets LLP
  3. Tryrock Capital Trust AIF

Investment Banker:

  • IntelliFin Private Limited (served as the sole investment banker for the round)

Purpose of Funds:

  • Scaling operations
  • Expanding market share in the drone services sector

Additional Information:

  • The company is preparing to file its Draft Red Herring Prospectus (DRHP) for an SME IPO.
  • It has launched the Drone Academy of India to promote education in drone and space technologies.

Industry Applications:

  • Railways
  • Roadways
  • Agriculture
  • Mining
  • Urban planning
  • Solar power
  • Irrigation
  • Hydropower
  • Metro projects
  • Surveillance

This summary captures the key aspects of the funding and the company itself.

Source link

Terms          Privacy Policy