View source for IdeaForge

{{Short description|Aircraft manufacturing company}}
{{lowercase title}}
{{Infobox company
| name = ideaForge
| type = [[Public company|Public]]
| traded_as = {{ubl|{{BSE|543932}}|{{NSE|IDEAFORGE}}}}
| industry = [[Unmanned aerial vehicle]] (UAV)
| founded = 2007
| hq_location = Mumbai, Maharashtra, India
| area_served = Worldwide
| key_people = {{Unbulleted list|
* Ankit Mehta (CEO)
* Vipul Joshi (CFO)
* Ashish Bhat (VP)
* Rahul Singh (VP)
}}
| products = [[DRDO Netra]] with (R&DE)
| website = {{URL|https://ideaforgetech.com/}}
| footnotes =<ref>{{cite news |title=Leadership |url=https://ideaforgetech.com/aboutus |access-date=31 December 2023 |publisher=ideaForge Technology official website}}</ref>
}}
'''ideaForge Technology Limited''' is an Indian [[unmanned aerial vehicle]] (drone) manufacturer established in 2007 in Mumbai, India.<ref>{{Cite news |last= |date=2023-02-11 |title=Drone maker ideaForge Technology files IPO papers with SEBI |language=en-IN |work=The Hindu |url=https://www.thehindu.com/business/drone-maker-ideaforge-technology-files-ipo-papers-with-sebi/article66496646.ece |access-date=2023-12-31 |issn=0971-751X}}</ref><ref>{{Cite news |date=October 11, 2024 |title=Done Stock Ideaforge Technology rises 3%: Goldman Sachs funds sells 6.5 lakh shares ; Citigroup buys 6.65 lakh shares |url=https://www.livemint.com/market/stock-market-news/ideaforge-technology-rises-2-5-goldman-sachs-funds-sells-6-5-lakh-shares-in-bulk-deal-citigroup-buys-6-65-lakh-shares-11728619788168.html |work=livemint}}</ref>

In December 2023, ideaForge ranked 5th in the dual use category that is civil and defence as per the report published by Drone Industry Insights (7th in December 2022).<ref>{{Cite news |date=2023-02-13 |title=India's largest drone maker IdeaForge files for Rs 750 crore IPO: All you need to know |work=The Times of India |url=https://timesofindia.indiatimes.com/business/markets/indias-largest-drone-maker-ideaforge-files-for-rs-750-crore-ipo-all-you-need-to-know/articleshow/97853117.cms?from=mdr |access-date=2023-12-31 |issn=0971-8257}}</ref>

== History ==
ideaForge was established in 2007 in Mumbai by IIT Bombay graduates, Ankit Mehta, Rahul Singh and Ashish Bhat.<ref>{{Cite web |last=Bisht |first=Paras |date=2023-07-02 |title=ideaForge IPO allotment date: Direct link to check subscription status on Link Intime, BSE; check share price listing date, time on NSE, BSE |url=https://www.timesnownews.com/business-economy/companies/ideaforge-ipo-allotment-date-direct-link-to-check-subscription-status-on-link-intime-bse-check-share-price-listing-date-time-on-nse-bse-article-101430486 |access-date=2023-12-31 |website=TimesNow |language=en}}</ref><ref>{{Cite web |last=Oberoi |first=Rahul |date=2023-06-22 |title=ideaForge IPO: How 26/11 terror attack motivated IIT Bombay students to found India's largest drone company |url=https://www.businesstoday.in/markets/ipo-corner/story/ideaforge-ipo-how-2611-terror-attack-motivated-iit-bombay-students-to-found-indias-largest-drone-company-386686-2023-06-22 |access-date=2024-05-05 |website=Business Today |language=en}}</ref>

In 2009, it launched its first autonomous micro unmanned aerial vehicles with a quadrotor configuration.<ref>{{Cite news |last=Saha |first=Kairavi Lukka & Soumyajit |date=2023-06-21 |title=Ideaforge IPO expected to fuel drone startup's flight |url=https://economictimes.indiatimes.com/tech/startups/ideaforge-expansion-dreams-set-to-take-wing-with-maiden-public-offer/articleshow/101168329.cms |access-date=2024-05-05 |work=The Economic Times |issn=0013-0389}}</ref>

In July 2023, the company raised {{INRConvert|255|c|year=2023}} from 31 anchor investors by allocating 37.92 lakh equity shares to anchor investors.<ref>{{Cite web |last=Narayanan |first=KS Badri |date=2023-07-07 |title=ideaForge Technology to list on bourses today |url=https://www.thehindubusinessline.com/markets/ideaforge-technology-to-list-on-bourses-today/article67052309.ece |access-date=2023-12-31 |website=BusinessLine |language=en}}</ref> It opened its [[initial public offering]] (IPO) with an Offer For Sale (OFS) of {{INRConvert|567|c|year=2023}} comprised with ₹240 crore fresh issue and ₹327 crore by promoters and investors up to 48.69 lakh equity shares worth in [[Bombay Stock Exchange|BSE]] & [[National Stock Exchange of India|NSE]] on 7 July 2023.<ref>{{Cite news |last=Sonawane |first=Ruchita |date=2023-07-08 |title=IdeaForge lists at 94% above its IPO price |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/ipos/fpos/ideaforge-lists-at-94-above-its-ipo-price/articleshow/101585803.cms |access-date=2023-12-31 |issn=0013-0389}}</ref><ref>{{Cite web |last=KUMAR |first=CHITRANJAN |date=2023-07-10 |title=IdeaForge makes blockbuster debut; lists at 94% premium |url=https://www.fortuneindia.com/investing/ideaforge-makes-blockbuster-debut-lists-at-94-premium/113299 |access-date=2023-12-31 |website=www.fortuneindia.com |language=en}}</ref><ref>{{Cite web |last=Nagasundaram |first=Dhanya |date=2023-07-07 |title=IdeaForge Technology IPO listing: Stock lists at a premium of 93% on NSE |url=https://www.livemint.com/market/stock-market-news/ideaforge-technology-ipo-listing-stock-lists-at-a-premium-of-93-on-nse-11688700900232.html |access-date=2023-12-31 |website=mint |language=en}}</ref> The IPO gained a premium of 94% to the issue price of ₹1,296 on the opening day.<ref>{{Cite web |title=IdeaForge soars 94% on debut, settles at Rs 1,295.50 on BSE from issue price of Rs 672 |url=https://www.telegraphindia.com/business/ideaforge-soars-94-on-debut-settles-at-rs-1295-50-on-bse-from-issue-price-of-rs-672/cid/1950616 |access-date=2023-12-31 |website=www.telegraphindia.com |language=en}}</ref><ref>{{Cite web |last=Matkar |first=Sunil Shankar |date=2023-07-07 |title=Bumper listing {{!}} Ideaforge Technology debuts with 94% premium |url=https://www.moneycontrol.com/news/business/ipo/bumper-listing-ideaforge-technology-debuts-with-94-premium-10915901.html |access-date=2023-12-31 |website=Moneycontrol |language=en}}</ref>

In 2024, the ideaForge partnered with Skylark Labs, a US based [[Artificial intelligence|Artificial Intelligence (AI)]] solutions company to integrate self-evolving drones AI capabilities for public safety and security applications. It will help drones autonomously detect and identify suspicious weapons, persons, vehicles, fires, and smoke in real-time.<ref>{{Cite news |last= |first= |date=2024-05-29 |title=ideaForge partners with Skylark to integrate self-evolving AI capabilities into drones |url=https://www.thehindu.com/sci-tech/technology/ideaforge-partners-with-skylark-to-integrate-self-evolving-ai-capabilities-into-drones/article68227844.ece |access-date=2024-07-09 |work=The Hindu |language=en-IN |issn=0971-751X}}</ref>

== Products and services ==
The company manufactures drones for mapping, security, and surveillance applications<ref>{{Cite news |last=Sonawane |first=Ruchita |date=2023-07-08 |title=IdeaForge lists at 94% above its IPO price |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/ipos/fpos/ideaforge-lists-at-94-above-its-ipo-price/articleshow/101585803.cms |access-date=2023-12-31 |issn=0013-0389}}</ref> assisting defence forces in conducting intelligence, surveillance, and reconnaissance (ISR) operations along borders.<ref>{{Cite web |last=Matkar |first=Sunil Shankar |date=2023-07-06 |title=IdeaForge Technology on track for big bang start on July 7, may list at 75% premium over IPO price |url=https://www.moneycontrol.com/news/business/ipo/ideaforge-technology-set-for-soaring-start-on-july-7-may-list-at-75-premium-over-ipo-price-10914991.html |access-date=2023-12-31 |website=Moneycontrol |language=en}}</ref> The company majorly caters to the central armed police forces, armed forces, state police departments, forest departments, disaster management forces, and civil customers.<ref>{{Cite web |date=2023-06-21 |title=Drone maker ideaForge IPO to open on June 26; sets price band at Rs 638-672 per share |url=https://indianexpress.com/article/business/market/drone-maker-ideaforge-ipo-dates-price-band-8677155/ |access-date=2023-12-31 |website=The Indian Express |language=en}}</ref>

* [[DRDO Netra]] -  jointly developed by the Research and Development Establishment (R&DE)<ref>{{Cite web |title=DRDO develops UAV 'Netra' to aid anti-terror operations |url=https://article.wn.com/view/2010/07/03/DRDO_develops_UAV_Netra_to_aid_antiterror_operations/ |access-date=2023-12-31 |website=article.wn.com |language=en}}</ref><ref>{{Cite web |date=2020-11-29 |title=IAF's Unmanned Capability: Prospects for Indigenisation |url=https://indiandefencereview.com/iafs-unmanned-capability-prospects-for-indigenisation/ |access-date=2025-01-19 |language=en-US}}</ref>
* Switch UAV, Netra V4 UAV, Q6 UAV, Ninja UAV, Q4i UAV, and Ryno UAV products specialised with in extreme temperatures (-20°C to +50°C), marine environment, dusty weather conditions and high humidity.<ref>{{Cite news |date=2023-02-13 |title=India's largest drone maker IdeaForge files for Rs 750 crore IPO: All you need to know |url=https://timesofindia.indiatimes.com/business/markets/indias-largest-drone-maker-ideaforge-files-for-rs-750-crore-ipo-all-you-need-to-know/articleshow/97853117.cms?from=mdr |access-date=2024-05-05 |work=The Times of India |issn=0971-8257}}</ref>

== Financials ==
{| class="wikitable"
!Year
!Revenue (In crores)
!Profits/Loss (In crores)
!{{Tooltip|Ref.|References}}
|-
|FY 2021
|{{Increase}} 35
|
| rowspan="3" |<ref>{{Cite web |last=Bhutra |first=Sonal |date=2023-10-10 |title=ideaForge Inside Out: Drone firm sets focus on new products and tech for next flight phase |url=https://www.cnbctv18.com/business/companies/ideaforge-inside-out-drone-firm-sets-focus-on-new-products-and-tech-for-next-flight-phase-18001661.htm |access-date=2023-12-31 |website=CNBCTV18 |language=en}}</ref>
|-
|FY 2022
|{{Increase}} 159
|
|-
|FY 2023
|{{Increase}} 186
|{{Increase}} {{color|Green|32}}
|-
|FY 2024
|317
|48
|
|}

== Awards and recognitions ==
In 2023, the company has indigenously developed Fixed-wing VTOL UAV - SWITCH UAV that can fly at diverse terrains and harsh environments, ranging from -30 °C to +55 °C for a variety of security and surveillance applications.<ref>{{Cite web |last=PIB |first=Delhi |date=14 May 2023 |title=TDB/DST confers National Technology Awards upon Industries, Entrepreneurs & Scientists at National Technology Awards ceremony on closing day of NTW 2023 |url=https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1924046 |access-date=5 May 2024 |website=Indian Government (PIB)}}</ref>

== References ==
{{reflist}}

== External links ==
* {{Official website|https://ideaforgetech.com/}}

[[Category:Unmanned aerial vehicle manufacturers]]
[[Category:Indian brands]]
[[Category:Manufacturing companies based in Mumbai]]
[[Category:Indian companies established in 2007]]
[[Category:Aircraft manufacturers of India]]
[[Category:Vehicle manufacturing companies established in 2007]]
[[Category:Publicly traded companies]]
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