Matrix Geo Solutions Ltd., a leading geospatial technology company specializing in drone and space tech, has successfully raised nearly $1 million in its pre-IPO funding round. The round attracted prominent investors, including Chittorgarh Infotech Limited, Viney Equity Markets LLP, and Tryrock Capital Trust AIF, among others. IntelliFin Private Limited (www.ipoplatform.com) served as the sole investment banker for the transaction.
Following this fundraising milestone, Matrix Geo Solutions is preparing to file its Draft Red Herring Prospectus (DRHP) for an SME IPO. The company plans to use the raised capital to fuel its growth and capture a larger share of the rapidly expanding drone services market both in India and internationally.
Founded in 2008 by Amit Sharma and Rahul Jain, Matrix Geo Solutions has emerged as a leader in geospatial technology, leveraging advanced drone and satellite technology to empower businesses in planning, monitoring, and management. Their solutions help clients optimize efficiency, reduce costs, and make informed decisions across various sectors.
Matrix Geo Solutions has played a pivotal role in advancing drone-based remote sensing solutions in India. Over the years, the company has provided cutting-edge services across diverse industries, including railways, roadways, irrigation, agriculture, hydropower, metro projects, mining, urban planning, solar power, and surveillance.
Amit Sharma, Co-founder of Matrix Geo Solutions, expressed his excitement about the funding, stating, “We are thrilled to successfully complete our pre-IPO funding round and would like to thank the esteemed investors for their confidence in Matrix Geo. With the Indian government’s regulatory support for drone usage since 2021, we’ve seen exponential growth in adoption across both government and private sectors. This fundraise will help us lead this transformation.”
Anant Aggarwal, Managing Partner at Viney Equity Markets LLP, highlighted the potential of Matrix Geo Solutions’ technology: “Matrix Geo Solutions is well-positioned to capitalize on the growing demand for drone technology. With favorable regulations and a rapidly expanding market, we believe Matrix Geo will disrupt the sector with its innovative solutions.”
Rahul Jain, Co-founder of Matrix Geo Solutions, added, “We are grateful to our investors for joining us on this exciting journey. This funding will enable us to enhance our technology, expand our capacity, and invest in sales, marketing, and R&D efforts to drive continued success.”
In addition to its technological advancements, Matrix Geo Solutions recently launched the “Drone Academy of India,” an initiative aimed at building a skilled workforce for the drone and space technology sector. The academy offers hands-on, industry-focused training to students, infrastructure companies, and government agencies.
Matrix Geo Solutions has been instrumental in several high-profile projects, providing advanced drone and space technology for major developments, including the Indian Railways High-Speed Rail Corridor, the Bharatmala Road Project, the Statue of Unity Area Development, the world’s highest railway bridge over the Chenab River, and India’s largest solar project. The company has also worked with top-tier clients such as Indian Railways, World Bank, IRCON, NHAI, DMRC, L&T, Adani, Tata, and many others.
With this new funding, Matrix Geo Solutions is poised to accelerate its growth and further strengthen its position as a leader in the geospatial technology and drone services space.
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