Matrix Geo Solutions, a drone and space tech-based geospatial company, has raised close to $1 million in its pre-IPO funding round. This round saw participation from marquee investors such as Chittorgarh Infotech Limited, Viney Equity Markets LLP, Tryrock Capital Trust AIF among Others. IntelliFin acted as the sole investment banker to the Company.
Matrix Geo Solutions plans to use the raised funds to accelerate growth and capture a larger market share in the rapidly expanding drone services sector in India and abroad.
Following the fundraise, Matrix Geo is looking to file DRHP soon for SME IPO.
On the fundraiseAmit Sharma, Co-founder of Matrix Geo Solutions said, “We are delighted to successfully complete the pre-IPO funding round and would like to express our gratitude the eminent investors who showed faith in Matrix Geo. Ever since the Indian government regulated drone usage in 2021, we’ve seen a massive surge in adoption across government and private sectors. Matrix Geo is committed to utilizing the fundraise in leading this transformation.”
Rahul Jain, Co-founder of Matrix Geo Solutions added, “We extend our heartfelt thanks to all our investors for joining us on this growth journey. This fund will fuel investments in technology, capacity expansion, sales and marketing efforts, and R&D initiatives to drive continued success.”
Speaking on the investment,Anant Aggarwal, Managing Partner at Viney Equity Markets LLP said “Matrix Geo Solutions is clearly riding the wave of future with their drone technology. Given the growing scope of this technology, along with favorable regulations, we foresee an immense potential for a solution provider like Matrix Geo. We wish the team the best and look forward to them disrupting the sector with their top-of-the-line offerings.”
Founded in 2008 by Amit Sharma & Rahul Jain, Matrix Geo Solutions empowers customers in planning, monitoring, and management through advanced drone and satellite technology, driving efficiency, cost savings, and better decision-making.
Over the past few years, the company has 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.
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.
In the past, Matrix Geo Solutions has provided cutting-edge drone and space technology for several high-profile projects, including the Indian Railways’ High-Speed Rail Corridor, Bharatmala Road Project, Hemkund Sahib Ropeway Project, Statue of Unity Area Development, the world’s highest railway bridge over the Chenab River, India’s largest solar project, Kumbh Mela planning, and more.
Matrix Geo Solutions have collaborated with esteemed clients such as Indian Railways, World Bank, IRCON, RITES, RVNL, DFCCIL, NHAI, NHLML, NHIDCL, CRRI, WAPCOS, CWC, NWDA, GAIL, IOCL, DMRC, Kolkata Metro, SAIL, NEEPCO, UP Jal Nigam, ASI, NTPC, SECI, L&T, Adani, Tata, Dalmia Group, Welspun, among others.
