The company, formed by three graduates of the Indian Institute of Technology (IIT-Bombay) and founded by a leading engineering institute, has signed a 130 crore drone deal with the Indian Army. IdeaForge Technology was founded in the SINE incubator at IIT Bombay in 2007 by Ankit Mehta, Rahul Singh and Ashish Bhat.
“Congratulations to SINE and our heartfelt congratulations to Ankit, Rahul and Ashish. It is worth mentioning that they were honored with the Young Alumni Achiever award last year, ”IIT-Bombay wrote on its official Facebook page.
The company, in a statement on its website, said it would provide the Indian Army with “an undisclosed amount of IdeaForge’s Switch high-altitude drone variant,” short for unmanned aerial vehicle.
“This contract was awarded to ideaForge after it became the only supplier to qualify operational requirements in a real-world assessment for expedited procurement,” the company said.
The Switch UAV is a fixed-wing vertical take-off and landing aircraft that can be deployed at high altitudes and in harsh environments for day and night surveillance. According to the company, it is portable and has the highest time-to-target of any other UAV in its class.
“The Switch UAV is the culmination of the insights and knowledge we have gained over the years to help Indian forces use UAVs in their ranks. During the tests, about a dozen national and global players competed to meet operational requirements. This is the only product. This allowed the Indian army to rigorously test the products and exceed expectations, ”said Ankit Mehta, CEO of ideaForge.
“With the support of well-known institutional investors such as WRVI, Infosys and Qualcomm, ideaForge will grow rapidly,” said Ganapati Subramaniam, partner at WRVI Venture Capital, who is also the executive chairman of ideaForge.