Country’s second largest software services firm Infosys on Wednesday said it has invested in ideaForge, an Indian start-up focused on unmanned aerial vehicle or UAV solutions (drones).
The ideaForge investment is the company’s eleventh investment out of its $500 million investment fund. Infosys has also invested in venture firms Vertex Ventures and Stellaris Venture Partners.
Ritika Suri, Executive Vice President & Global Head of Corporate Development & Ventures at Infosys said,
“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.”
ideaForge was Launched in 2008 by five IIT Bombay graduates — Ankit Mehta, Ashish Bhat, Rahul Singh, Vipul Joshi, and Amardeep Singh. The company has built a world-class UAV solution featuring fully autonomous operation, cutting edge fail-safe technology, high endurance, image intelligence with live feed, and support for complex payloads such as thermal and high-resolution imagery.
“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,”
Ankit Mehta, Co-founder and Chief Executive Officer at ideaForge, said.
In the last few weeks, Infosys has invested in firms like US-based TidalScale, Danish artificial intelligence start-up UNSILO and Stellaris Venture Partners (an early-stage venture fund).