IdeaForge takes flight in US with drone joint venture
IdeaForge's stock rose 5% from the day's low after the company revealed a new joint venture with US-based First Breach Inc.
The move is all about licensing, designing, manufacturing, and distributing drones in the US, aiming to grab a slice of the lucrative American UAV market.
First Forge Technology Inc. will be a 50-50 partnership
The new company, First Forge Technology Inc., will be split 50-50 between IdeaForge and First Breach.
IdeaForge brings its drone tech and expertise; First Breach puts up cash.
Both sides get equal say on the board.
The deal still needs regulatory green lights in the US, but if all goes well, they're hoping to officially launch by the end of financial year 2025-26.
IdeaForge shares have soared 38% over 6 months
Investors are clearly excited—IdeaForge shares have soared 38% over six months, showing real confidence in its global ambitions.
For anyone interested in tech or startups, this is a solid example of an Indian company making bold moves on the world stage.