SOURCE: AFI
IdeaForge, a leading drone manufacturer based in Navi Mumbai, has acquired a non-controlling stake in GalaxEye Space, a Bengaluru-based spacetech startup, for INR 8.28 crore (approximately $1 million). This strategic move comes after the two companies reportedly signed an agreement earlier this year to collaborate on the development of a foliage penetration radar-equipped unmanned aerial vehicle (UAV).
The acquisition underscores IdeaForge’s commitment to developing advanced drone-based sensors. GalaxEye Space’s expertise in multi-sensor imaging satellites aligns perfectly with IdeaForge’s vision of creating next-generation drones capable of operating in challenging environments like foggy and foliage-dense areas.
This collaboration leverages the strengths of both companies. IdeaForge brings its experience in UAV design and manufacturing to the table, while GalaxEye contributes its proficiency in satellite-based sensor development. The combined expertise is expected to yield significant advancements in drone sensor technology.
The investment is likely to benefit not just IdeaForge but also the Indian drone industry as a whole. By fostering innovation in drone-based sensors, the collaboration has the potential to pave the way for the development of highly versatile UAVs capable of tackling a wider range of applications in India and abroad.