Drone-based geospatial firm Matrix Geo raises pre-IPO round

Drone and space tech-based geospatial company, Matrix Geo Solutions, has raised close to $1 million in its pre-IPO round from Chittorgarh Infotech Limited, Viney Equity Markets LLP, and Tryrock Capital Trust AIF. Matrix Geo is now looking to file DRHP for an SME IPO soon. 

The proceeds will be used to ramp up growth and capture a larger market share in the rapidly expanding drone services sector in India and abroad. 

Founded by Amit Sharma and Rahul Jain in 2008, Matrix Geo Solutions empowers customers in planning, monitoring, and management through advanced drone and satellite technology. This technology drives efficiency, cost savings, and better decision-making.

Over the past few years, the company claims to have successfully delivered services to a wide range of sectors, including Railways, Roadways, Ropeways, Irrigation, Agriculture, Hydropower, Metro projects, Mining, Urban planning, Solar power, Inspections, and Surveillance.

The Delhi-based company Matrix Geo Solutions has recently launched the "Drone Academy of India," an educational initiative aimed at building capacity and expanding market reach. The academy provides practical, industry-focused drone and space technology training for students, major infrastructure companies, and government agencies.  

Last week, drone technology startup Airbound raised $1.7 million in a seed round led by Lightspeed and others.