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India’s First Drone Company ideaforge Technology IPO subscribed 13.27 times on Day 2

28Jun By NitishNo Comments

Market

India’s First Drone Company ideaforge Technology IPO subscribed 13.27 times on Day 2

28th July 2023, Bengaluru: The Indian drone maker company ideaforge Technology IPO was subscribed 13.27 times on the second day of share sale. The Rs 567.24 crore initial share sale received bids for 6,16,78,386 shares against 46,48,870 shares on offer, according to NSE data. The category for Retail Individual Investors (RIIs) received 36.36 times subscription, non-institutional investors quota got subscribed 21.59 times and Qualified Institutional Buyers (QIBs) portion 1.34 times. The Initial Public Offer (IPO) has a fresh issue of up to Rs 240 crore and an offer for sale of up to 4,869,712 equity shares. The IPO is in a price range of Rs 638-672 a share. The grey market is expecting the drone maker to list around Rs 1,217 (Rs 672 + Rs 545), which is 81.10 per cent higher than th...

Amazon’s Flying Warehouse to Launch Drones For Fast Delivery

31Dec By reutersNo Comments

USA

Amazon’s Flying Warehouse to Launch Drones For Fast Delivery

American e-commerce giant Amazon will fly a warehouse at an altitude of around 45,000 feet that would act as a launchpad for drones, with an aim to deliver consignments in a jiffy, media reports said today. Amazon, after winning a patent for flying the warehouse in the US, announced plans for an "airborne fulfillment center" (AFC) such as an airship, CNBC reported. The airship will be stocked with lots of products and would float at an altitude of around 45,000 feet, it said. When a customer places an order, a drone or unmanned aerial vehicles (UAV) will fly down and deliver the parcels. Amazon said the process would require little power as the drone would be gliding down rather than having to take off and land. "When the UAV departs the AFC, it may descend from the high altitude ...

India’s Leading IT Giant Infosys Invested in Drone Making Startup Ideaforge

15Dec By AdityaNo Comments

FUNDING

India’s Leading IT Giant Infosys Invested in Drone Making Startup Ideaforge

Infosys, a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has made an investment from its Innovation Fund in Mumbai based ideaForge, an Indian startup focused on Unmanned Aerial Vehicle (UAV) solutions. The total amount invested was 70 crores with participation from other investors as well. "We are very excited to have Infosys as an investor and a partner for exploring UAV services and solutions for global customers. This partnership will play an important role in our industrial expansion to address a wide variety of data acquisition and analysis needs," said Ankit Mehta, Co-founder and Chief Executive Officer at ideaForge. ideaForge has built a world-class UAV solution featuring fully autonomous operation, cutting edge fail...

Drone Makes First Urban Package Delivery in US

26Mar By NitishNo Comments

USA

Drone Makes First Urban Package Delivery in US

RENO(NEVADA): A drone has successfully delivered a package to a residential location in a Nevada town in what its maker and the state's governor said Friday was the first fully autonomous urban drone delivery in the U.S. Flirtey CEO Matt Sweeney said the six-rotor drone flew about a half-mile along a pre-programmed delivery route on March 10 and lowered the package outside a vacant residence in Hawthorne. The route was established using GPS. A pilot and visual observers were on standby during the flight but weren't needed, Sweeney said. He said the package included bottled water, food and a first-aid kit. NASA is working with the drone industry and the Federal Aviation Administration on a low-altitude air traffic control system to prevent crashes involving drones and other low-...

China’s Drone Maker Comapny Ehang Unveils First Passenger-Carrying Drone

8Jan By AnkitaNo Comments

CHINA, Tech

China’s Drone Maker Comapny Ehang Unveils First Passenger-Carrying Drone

LAS VEGAS, United States, Jan. 6 (Xinhua) -- Chinese drone maker Ehang on Wednesday, unveiled the world's first drone capable of carrying one passenger, which might help achieve the long-standing dream of automated short-to-medium-distance everyday flights. The electrically powered Ehang 184, unveiled at the 2016 Consumer Electronics Show in Las Vegas, can carry a single passenger weighing up to 100 kg for a 23-minute flight at sea level at a speed of 100 km per hour, the company said. After setting a flight plan, passengers only need to send two commands: "take off" and "land," each controlled by a single click on an accompanying tablet, it said. There's no need for a runway because the drone takes off and lands vertically. "Due to the 184's fully automated navigation, made possibl...