Drone maker ideaForge plans higher R&D spend this fiscal year

City-based drone maker ideaForge is planning a higher R&D spend this fiscal year to develop technology and product platforms in the UAV space, in line with the government’s focus on fostering domestic drone research. The company’s CEO, Ankit Mehta, mentioned that R&D spending was 22% of revenues last year and is expected to increase further this year. IdeaForge aims to drive sustained growth in the UAV sector through continuous innovation and leveraging run-rate business for substantial contribution to its overall revenue.

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