IT services major Infosys announced it's recent investment of an additional $1 mn in ideaForge Technology, a UAV systems manufacturing company. The drone company would receive all it's money in the fourth quarter of FY21.
"ideaForge's UAV systems are increasingly being used across a wide spectrum of organisations. Several customers of Infosys have also embraced UAV systems as they digitise rapidly. The investment is intended to be utilised on R&D, sales, marketing, business development and working capital needs at ideaForge," the company statement read.
ideaForge is renouned for rugged and high-precision UAV systems. The systems are used extensively for inspection, surveillance and mapping with integrated vertical solutions across defence, homeland security, mining, construction, agriculture, energy and utilities.