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Bengaluru-based defense tech firm gets export orders for unmanned aircraft

Economic Times

Economic Times · 5m ago

Bengaluru-based defense tech firm gets export orders for unmanned aircraft

Flying Wedge Defence and Aerospace (FWDA) has secured India's first global export order for the FWD 100 ISR autonomous aircraft from a Sub-Saharan nation, positioning India among global defense exporters. Announced at Aero India 2025, the deal includes 35 aircraft and highlights India's emerging role in defense manufacturing. The FWD 100 ISR, fully developed in Bengaluru, signifies a milestone in India's defense capabilities and efforts to reduce reliance on imported military technologies.

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Celesta Capital sold IdeaForge shares worth Rs 27 crore

YourStory

YourStory · 1y ago

Celesta Capital sold IdeaForge shares worth Rs 27 crore

US-based venture capital firm Celesta Capital sold 357,600 shares of drone manufacturing company IdeaForge at Rs 768.08 apiece in a bulk deal, resulting in shares dipping by 5% to Rs 805.25 apiece. IdeaForge specializes in manufacturing unmanned aircraft systems for surveillance and mapping. It went public in July 2023, raising over Rs 500 crore in an IPO oversubscribed 106 times. The company is backed by investors such as Qualcomm Asia Pacific, Infosys, and Celesta Capital.

Sanlayan secures Rs 186 Cr in Series A funding from Jungle Ventures, others

YourStory

YourStory · 2m ago

Sanlayan secures Rs 186 Cr in Series A funding from Jungle Ventures, others

Sanlayan Technologies, an aerospace and defense startup in Bengaluru, secured Rs 186 crore in Series A funding led by Jungle Ventures, Ashish Kacholia, and Lashit Sanghvi. The company designs advanced electronics like radar and electronic warfare solutions. With this funding, Sanlayan aims to enhance its acquisition strategy, bolster in-house technology, and form international partnerships to contribute to national security. Founded by IIT and IIM graduates, the firm plans further advancements in counter-unmanned aerial systems and electronic warfare technologies.

Tonbo Imaging raises $21 Mn in pre-IPO round

Entrackr

Entrackr · 4m ago

Tonbo Imaging raises $21 Mn in pre-IPO round

Tonbo Imaging raises $21 Mn in pre-IPO round Bengaluru-based defense technology firm Tonbo Imaging has raised Rs 175 crore or $21 million in its Series D pre-IPO round from Florintree Advisors, Tenacity Ventures, and the Export-Import Bank of India. The proceeds will be used to support the company’s development of next-gen infrared sensors and advanced energy weapons, along with expanding its global operations. Founded by Arvind Lakshmikumar, Tonbo Imaging blends optics, AI, and computer vision to create advanced surveillance and targeting systems that work across land, air, and sea. Its focus is on building lightweight, autonomous platforms that can operate in harsh battlefield conditions. Tonbo Imaging builds high-tech vision and targeting systems used in military operations worldwide. Its products enhance battlefield awareness and are already used in over 30 countries by forces like the U.S. Navy SEALs, Israeli Defense Forces, NATO, and the Indian Army. With over Rs 300 crore raised in previous rounds from investors like Qualcomm and Edelweiss, Tonbo is now gearing up for its IPO.

Africa-focused Acre Impact gets US LP for debut export finance fund

VCCircle

VCCircle · 10m ago

Africa-focused Acre Impact gets US LP for debut export finance fund

- Acre Impact Capital secures commitment from US LP for its debut export finance fund focused on Africa. - The London-based investment firm has raised $25 million from a US-based limited partner. - The fund will be used to finance climate-aligned infrastructure projects in Africa. - Acre Impact Capital specializes in private debt impact investments in Africa. - The first close of the fund took place in April.

Marine robotics startup EyeROV raises $1.2 Mn in pre-Series A

Entrackr

Entrackr · 12m ago

Marine robotics startup EyeROV raises $1.2 Mn in pre-Series A

Marine robotics deep-tech startup EyeROV has raised INR 10 Crore (about $1.2 million) in a pre-Series A round led by Unicorn India Ventures. The company had previously raised $788K from GAIL and others. The funds will be used to strengthen its geographical expansion into international markets and develop advanced marine robotics products and solutions, EyeROV said in a press-release. Co-founded in 2016 by Johns T Mathai and Kannappa Palaniappan P, EyeROV is a deep-tech company which is specialized in marine robotics and AI. The Company aims to empower industries such as energy, maritime, defense, and infrastructure through its cutting-edge unmanned technologies. According to the Kochi-based company, it has introduced commercial underwater drones/ROVs and launched an unmanned surface vehicle (USV) that provides solutions in both India and the MENA region. EyeROV also manufactures solutions for infrastructure inspections and collaborating with defense R&D labs and forces through the Innovations for Defence Excellence (IDEX) initiative to develop maritime intelligence, surveillance, and reconnaissance (ISR) solutions. EyeROV claims that it serves prominent clients including Tata, Adani, BPCL, DRDO, and the Indian Coast Guard, having completed over 100 underwater inspections. It intends to triple its revenue by the end of the financial year by boosting sales in both domestic and international markets.

China test-flies biggest cargo drone as low-altitude economy takes off

Economic Times

Economic Times · 12m ago

China test-flies biggest cargo drone as low-altitude economy takes off

China conducted a successful test flight of its largest unmanned cargo aircraft designed for civilian use. Developed by Sichuan Tengden Sci-tech Innovation Co., the twin-engine aircraft has a payload capacity of 2 metric tons and resembles a small airplane. This test flight is part of China's push to expand its low-altitude economy and advance its drone technology, with plans to introduce even larger cargo drones in the future. The Chinese government sees the drone industry as a 2-trillion-yuan ($279-billion) industry by 2030. China currently has over 2,000 enterprises engaged in the design and manufacture of UAVs, with DJI being the largest drone maker.

Amicus Capital gets commitment from offshore investor for second fund

VCCircle

VCCircle · 7m ago

Amicus Capital gets commitment from offshore investor for second fund

Amicus Capital, a Bengaluru-based private equity firm, has secured a commitment from a European institutional investor for its second fund in India. The mid-market firm, led by Mahesh Parasuraman, focuses on growth and mid-market investments. Notable limited partners in the fund include the European Investment Bank and the US International Development Finance Corporation.

Infosys-backed GalaxEye plans new satellite to meet global demand for geospatial data

Economic Times

Economic Times · 1m ago

Infosys-backed GalaxEye plans new satellite to meet global demand for geospatial data

Infosys-backed space tech startup GalaxEye plans to develop a new imaging satellite to meet the increasing global demand for geospatial data in agriculture, mining, and defense sectors. The Bengaluru-based company aims to launch the satellite with a resolution of 0.5 meters, improving upon its first satellite, Mission Drishti. Utilizing proprietary SAR and optical MSI technology, GalaxEye seeks to provide all-weather information, reduce revisit times, and enhance its manufacturing capabilities to support expanding international defense markets.

Taiwan May export orders rise on robust AI demand; geopolitical risks seen

Economic Times

Economic Times · 1m ago

Taiwan May export orders rise on robust AI demand; geopolitical risks seen

Taiwan's export orders increased by 18.5% in May, reaching $57.93 billion, driven by strong demand for technology products, especially in artificial intelligence. This marks the fourth consecutive month of growth. Orders from the U.S. surged by 40.1%. However, geopolitical risks and potential U.S. tariffs pose future challenges. The Ministry of Economic Affairs anticipates June export orders to grow between 16.3% and 20.7%. While electronic and telecom products demand rose, orders from China declined slightly.

Ammunitions maker Munitions India’s export orders swell to ₹6,000 crore

Thehindubusinessline

Thehindubusinessline · 1y ago

Ammunitions maker Munitions India’s export orders swell to ₹6,000 crore

Munitions India Ltd (MIL), a government-owned defense company, has reported a high demand for its products overseas, with export orders totaling ₹6,000 crore over the next three years. MIL manufactures a range of ammunition, including bullets, shells, mortars, rockets, and hand grenades. Among its prominent foreign customers are the UAE, Vietnam, and a European country, according to Gnaneshwar Tyagi, Chief General Manager of MIL's High Energy Projectile Factory. The company expects India's defense exports to exceed ₹20,000 crore by 2023-24, with a presentation by Brahmos Aerospace highlighting global demand for Brahmos missiles. India's imports-to-exports ratio for defense products has decreased, indicating a growth in domestic manufacturing capabilities. Additionally, MIL is set to produce the 125-mm 'mango' tank shells, with plans to procure materials from MSMEs amounting to ₹150 crore.

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