Drone and space tech-based geospatial firm Matrix Geo Solutions raises close to $1 million

Matrix Geo Solutions, a geospatial company specializing in drone and space technologies, has raised nearly $1 million in a pre-IPO funding round.

The funding came from notable investors, including Chittorgarh Infotech Limited, Viney Equity Markets LLP, and Tryrock Capital Trust AIF. IntelliFin Private Limited served as the sole investment banker for the round.

Preparing for IPO launch

The company, established in 2008 by Amit Sharma and Rahul Jain, is preparing to file its Draft Red Herring Prospectus (DRHP) for an SME IPO, aiming to expand its market share in the booming drone services sector in India and globally.

The funds will be directed toward scaling operations and reinforcing its leadership in the sector.

Innovations in geospatial technology

Matrix Geo Solutions leverages cutting-edge drone and satellite technology to support sectors such as railways, roadways, agriculture, mining, urban planning, and solar power.

The company's offerings enhance planning, monitoring, and decision-making processes, resulting in cost efficiency and improved outcomes. Over the years, Matrix Geo has provided services to a wide array of industries, including irrigation, hydropower, metro projects, and surveillance.

Capacity-building through education

Recently, the company launched the Drone Academy of India, an initiative aimed at promoting education in drone and space technologies.

The academy offers practical, industry-oriented training programs for students, infrastructure firms, and government bodies, aligning with Matrix Geo's vision to strengthen capacity and boost adoption of its technologies.