SUMMARY
- Matrix Geo Solutions raised over $1 million in pre-IPO funding to expand its market presence in drone services.
- The company utilizes drone and satellite technology for efficient planning, monitoring, and management across various industries.
- For FY 2022-23, Matrix Geo reported ₹1 crore to ₹100 crore in revenue, with EBITDA and net worth growth.
Matrix Geo Solutions, a geospatial startup based on drones and space technology, raised over $1 million in its pre-IPO round from Tryrock Capital Trust AIF, Viney Equity Market LLP, and Chittorgarh Infotech Limited. The fresh funds will be utilized to accelerate expansion and increase market share in the quickly growing drone services industry both domestically and internationally.
Established in 2008 by Amit Sharma and Rahul Jain, Matrix Geo Solutions uses cutting-edge drone and satellite technology to help clients with planning, monitoring, and management. Efficiency, cost reductions, and improved decision-making are all facilitated by this technology.
The company asserts that it has successfully provided services to a variety of industries over the last few years, including mining, urban planning, solar power, irrigation, agriculture, metro projects, roads, ropeways, railways, irrigation, inspections, and surveillance.
Recently, the Delhi-based business introduced the “Drone Academy of India,” an educational program designed to increase market reach and capabilities. Students, large infrastructure firms, and government agencies can all benefit from the academy’s hands-on, industry-focused drone and space technology training.
The business reported an operating revenue range of ₹1 crore to ₹100 crore for the financial year ending 31 March 2023. The company’s EBITDA increased by 10.99% compared to the previous year, while its book net worth grew by 15.42%.
