Drone tech startup TechEagle has joined hands with drone manufacturer ideaForge to expand its unmanned aerial vehicle technology. The move aligns with the former’s vision to establish the world’s largest on-demand drone logistics network featuring efficient package delivery.
TechEagle co-founder Vikram Singh Meena said, “This partnership exemplifies the power of synergistic innovation. By combining TechEagle’s advancements in drone technology with ideaForge’s UAV technology prowess and manufacturing capabilities, we are set to redefine the UAV landscape.”
Through the partnership, TechEagle plans to utilize ideaForge’s technology and manufacturing efficiency for its long-range and heavy payload drones supported by AI and 5G.
Cofounded by Meena and Anshu Abhishek in 2017, the drone logistics startup TechEagle offers on-demand autonomous drone delivery, catering to logistics houses in urban and semi-urban regions with an emphasis on beyond visual line of sight (BVLOS) drone operations. Additionally, it has developed a software stack that provides an operational services network for aerial logistics spread across logistics, hyperlocal delivery, e-commerce, and healthcare.
ideaForge was co-founded by Ankit Mehta, Ashish Bhat, Rahul Singh, and Vipul Joshi in 2007. The drone manufacturing startup creates UAV systems for assessment, surveillance and tracking, catering to sectors oin the likes of defence, construction, mining, agriculture, energy and homeland security.
In July only, The drone manufacturing startup bought an undisclosed stake for Rs 8.28 crore in a Bengaluru-based space-tech startup GalaxEye Space.
A number of new-age tech startups have recently been experimenting in the drone-tech space such as Yali Aerospace bagging investment from SaaS major Zoho for its take-off and landing drones vertical. Google’s parent company Alphabet is also going to pilot drone manufacturing in Tamil Nadu through its subsidiary wing LLC.
Notably, the drone market space is estimated to grow at a CAGR of 13% in coming years and reach the size of $13 billion by 2030.
