Matrix Geo Solutions, a Drone and space tech-based geospatial company, has raised about USD 1 million in its pre-IPO round from the likes of Chittorgarh Infotech Limited, Viney Equity Markets LLP, and Tryrock Capital Trust AIF. Currently, Matrix Geo is looking to file DRHP for an SME IPO soon. The proceeds will be utilized to ramp up growth and capture a larger market share in today’s rapidly expanding drone services sector in India and abroad.

Matrix Geo Solutions was founded back in 2008 by Amit Sharma and Rahul Jain to empower customers in planning, monitoring, and management leveraging advanced drone and satellite technology. This technology from the get-go was focused on driving the much needed efficiency, cost savings, and better decision-making.

The company has also claimed to have successfully delivered services to a varied range of sectors which includes Railways, Roadways, Hydropower,Ropeways, Irrigation, Agriculture, Urban planning, Metro projects, Mining, Solar power, Inspections, and Surveillance.

Also to note, this Delhi-based company has launched the "Drone Academy of India"  recently which is an educational initiative aimed at building capacity and expanding market reach. This academy would be focused on providing practical, industry-focused drone and space technology training for varied entities of the society right from students, major infrastructure companies to government agencies.  

To speak of another drone technology startup, Airbound raised $1.7 million in a seed round led by Lightspeed and others, last week.