Indian drone maker IdeaForge secures $2m from venture debt firm BlackSoil

Unmanned aerial vehicle manufacturer IdeaForge said it has raised 150 million rupees (about US$2 million) in its latest round of funding.

More funding details

• Investor: BlackSoil
• Funding round: Undisclosed

More company updates

• The company aims to use the new funds to meet working capital requirements to service its order book.
• The investment comes following IdeaForge’s recent announcement of receiving a US$20 million order from the Indian Army for its vertical takeoff and landing drone Switch.
• So far, IdeaForge said it has deployed more than 1,000 drones since its inception in 2007.

For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.