Leading drone manufacturer ideaForge Technology has secured a letter of intent for up to Rs 151 crore in long-term debt financing under the Government of India's Research, Development and Innovation (RDI) scheme to develop YETI, a heavy-lift autonomous aerial platform designed for operations in extreme terrains and high-altitude environments.
The funding, offered at a nominal rate of interest, will support the development of YETI, a fixed-wing vertical take-off and landing (VTOL) hybrid aircraft capable of carrying payloads of up to 200 kg over distances of up to 200 km.
The platform has been engineered for operations in the Himalayas, deserts, offshore locations, and other difficult-to-access regions where conventional logistics are often constrained by terrain and weather.
The RDI scheme, backed by a Rs 1 lakh crore corpus, aims to accelerate private sector-led innovation in strategic sectors such as artificial intelligence, robotics, space and advanced manufacturing. ideaForge is among the first companies to receive funding under the programme, underscoring the government's focus to strengthen indigenous deeptech capabilities.
"The government's confidence in ideaForge through the RDI framework is a reaffirmation that Indian deeptech players are now ready to carry the weight of national capability-building," said Ankit Mehta, CEO and Co-founder of ideaForge Technology Ltd.
