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Aerospace and defence tech firm CoreEL Technologies raises $30 Mn in Series B

EntrackrEntrackr · 2d ago
Aerospace and defence tech firm CoreEL Technologies raises $30 Mn in Series B
Medial

CoreEL Technologies, a provider of advanced electronic system- and sub-system-level products and solutions for the aerospace and defence sector, has raised $30 million in a Series B funding round led by ValueQuest Scale Fund, with participation from existing investor 360 ONE Asset. The funding follows CoreEL’s recent acquisition of the aerospace and defence systems division of Lekha Wireless, which significantly expanded its communication systems portfolio. The acquisition added proven wireless communication technologies, indigenous intellectual property, and specialised engineering talent, further strengthening CoreEL’s capabilities in the MILCOM domain. The proceeds will be channelled towards scaling manufacturing capacity, strengthening research and development, advancing product engineering, and supporting participation in large and complex aerospace and defence programmes in India and overseas, CoreEL Technologies said in a press release. CoreEL designs, develops, and manufactures advanced electronic system- and sub-system-level products for strategic applications across the radar, electronic warfare, avionics, and MILCOM sectors. The company has delivered several critical high-end electronic system-level products and solutions to both strategic and commercial customers. Its customers include DRDO, defence public sector companies, and the Ministry of Defence (MoD). According to the Bengaluru-based company, its products have been deployed in India’s next-generation avionics, radars, missiles, electronic warfare systems, MILCOM, and sonars, among others. The company aims to develop some of the most advanced electronic systems for strategic aerospace and defence programmes.

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Defence-tech startup Ammunic Systems raises $1.1 Mn in seed round

EntrackrEntrackr · 5m ago
Defence-tech startup Ammunic Systems raises $1.1 Mn in seed round
Medial

Defence-tech startup Ammunic Systems raises $1.1 Mn in seed round The proceeds will be channeled towards scaling existing products and building new indigenous defence technologies, Ammunic Systems said in a press release. Defence tech startup Ammunic Systems has raised $1.1 million in a seed funding round co-led by India Accelerator and its multistage VC arm Finvolve. The proceeds will be channeled towards scaling existing products and building new indigenous defence technologies, Ammunic Systems said in a press release. Launched in September 2024, Ammunic Systems is a defence R&D firm focused on the design and development of weapon systems with core competence in advanced electronic fuzes, warheads, and munition integration technologies. The startup aspires to become a next-generation defence and aerospace innovator. The Bengaluru-based startup aims to empower defense with precision and safety and to pioneer tomorrow's warheads for global security. It is committed to providing services that exceed client expectations and help them achieve their business goals. It focuses on research, design, development, and production of new generation weapon systems for current and future warfare. Priyanka Singhal, founder of Ammunic Systems, said, “This investment from India Accelerator is not just capital; it is a vote of confidence in a mission we have poured our hearts into. At Ammunic Systems, we are not just building defence technologies; we are building belief — that India can lead from the front in securing its own future." India Accelerator and Finvolve boast a strong portfolio of defence tech companies including IG Drones, Indrajaal, Zulu Defence, and others.

Pravega Ventures leads $3 Mn pre-Series A round in Constelli

EntrackrEntrackr · 11m ago
Pravega Ventures leads $3 Mn pre-Series A round in Constelli
Medial

Pravega Ventures leads $3 Mn pre-Series A round in Constelli Aerospace and defence tech startup Constelli has raised $3 million in a pre-Series A funding round led by Pravega Ventures. This is the company's first institutional funding round. The proceeds will be deployed towards capital expenditure and research and development (R&D) of new products, Constelli said in a press release. Co-founded in 2017 by Satya Gopal Panigrahi and Avinash Chenreddy, Constelli specializes in developing advanced signal processing solutions and tools that enhance the design, development, and testing of critical aerospace and defence systems. According to the Hyderabad-based company, it leverages modern technologies and advancements in hardware and software, modeling and simulation, and distributed computing to achieve transformation. The company focuses on enhancing technical sophistication and expediting the development lifecycle of payloads for airborne and ground defence platforms. Constelli says that its products and services are used globally by organizations developing radar and electronic warfare (EW) systems. The company claims that it serves India's Ministry of Defence, the Defence Research and Development Organisation (DRDO), and defence contractors in South Korea, Australia, and Singapore. The other notable players in this space are NewSpace Research & Technologies, IdeaForge, Garuda Aerospace, and others.

Dronetech startup Zuppa raises $1.5 Mn in bridge round

EntrackrEntrackr · 5m ago
Dronetech startup Zuppa raises $1.5 Mn in bridge round
Medial

Dronetech startup Zuppa raises $1.5 Mn in bridge round Zuppa, a Chennai-based deep-tech startup focused on autonomous drone systems, has raised $1.5 million in a bridge funding round led by entrepreneur Rahul Dewan (founder of Srijan Technologies) with participation from Ajay Gupta (Capital Foods) and the Mangwani Family Office (ex-Aquapharm Chemicals). The round brings both capital and high-impact entrepreneurial backing to the company. The new funds will be used to strengthen Zuppa’s R&D and deepen its presence in defence and dual-use drone technologies. Founded by aerospace engineers, Zuppa builds fully indigenous drone intelligence platforms including flight control systems, vision guidance, secure cyber-physical stacks, and AI-based targeting. These systems are designed to operate independently of GPS and high-bandwidth internet, enabling performance in complex and remote environments. The firm claims to have built a high-barrier entry position in the defence drone segment and is already involved in post-Operation Sindoor deployments where Indian drone tech was found lacking. With deployments already underway and a patent-backed IP stack, Zuppa is also collaborating with academic institutions and government bodies to influence national drone policy and standards.

Tsalla Aerospace raises $1 Mn in maiden funding round

EntrackrEntrackr · 1m ago
Tsalla Aerospace raises $1 Mn in maiden funding round
Medial

Snippets Tsalla Aerospace raises $1 Mn in maiden funding round Tsalla Aerospace has raised $1 million in its first external funding round led by Sunny Stalnaker, executive VP at ASML, with additional support from SIDBI and equity-free grants from the Ministry of Defence’s Innovations for Defence Excellence (iDEX) programme. The proceeds will be used to expand its autonomous systems platform and scale deployment for defence and industrial use cases. Founded in 2019 and incubated at the Indian Institute of Science (IISc), Tsalla Aerospace builds an AI-based autonomy stack for drones and unmanned systems. Its AI Pilot enables unmanned platforms to operate without GPS or communication support and aims to function with zero operator intervention. Tsalla works with the Indian Navy and Indian Army on multiple projects. These include confined-space reconnaissance systems, backpack-based VTOL platforms designed for single-person operation, and logistics use cases such as ship-to-ship delivery in difficult weather conditions. Tsalla competes with domestic defence and autonomy companies such as ideaForge, NewSpace Research & Tech, Sagar Defence, CRON Systems, and global dual-use autonomy developers. According to the company, it also plans to raise $8 million in a seed round to expand its autonomy stack, grow deployments in India and international markets, and enter new defence and industrial segments.

IPO-bound Unimech Aerospace raises $30 Mn in maiden funding

EntrackrEntrackr · 1y ago
IPO-bound Unimech Aerospace raises $30 Mn in maiden funding
Medial

Unimech Aerospace has raised Rs 250 crore ($30 million) from Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd as a part of its private placement round. This is the maiden funding round for the Bengaluru-based company since its inception in 2016. As per the company, it has raised the funds at a post-money valuation of Rs 3,250 crore ($390 million). The proceeds will be used to pursue both organic and inorganic growth and refine products, the company said in a press release. Led by Anil Puthan, Unimech Aerospace specializes in manufacturing of high precision tooling for aero-engines and airframes, along with complex high precision components, assemblies, and for the aerospace, defence, energy, and semiconductor industries. Its key clients include top aerospace, energy, defence and semiconductor OEMs. The firm has also established itself as an export-oriented company with a presence in the USA, Europe, and the United Kingdom. For the fiscal year ended in March 2023(FY23), Unimech’s revenue jumped to Rs 28 crore from Rs 16 crore while it maintained its profitability with Rs 2.81 crore in FY23 from Rs 1.69 crore in FY22. Unimech claims to have grown to over Rs 200 crore ($24 million) in revenue by FY24. The company also said that it is in the process of filing a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India. Since January 2021, 26 tech startups have gone public and Unimech will become the first venture funded aerospace manufacturing company to go public in India. In the last couple of months, several established startups and companies have raised their maiden external or venture capital funding. The list includes workspace solution provider Incuspaze, ethnic wear brand Libas, consumer electronics startup Indkal, and performance wear brand TechnoSport.

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