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

EntrackrEntrackr · 19d 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.

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.

Garuda Aerospace to set up dedicated defence drone facility near Chennai

YourStoryYourStory · 1y ago
Garuda Aerospace to set up dedicated defence drone facility near Chennai
Medial

Drone manufacturer Garuda Aerospace plans to establish a dedicated Defence Drone facility in Chennai as part of India's 'Make in India' campaign. The facility will have state-of-the-art design, manufacturing, and testing capabilities, and will focus on developing drones with ISR capabilities, swarm drones, tethered drones, and underwater drones. Garuda Aerospace aims to produce critical drone components locally and collaborate with international companies such as Agrowing and Spirit Aeronautics. The company's founder and CEO, Agnishwer Jayaprakash, stated that the Defence Minister, Rajnath Singh, supports Garuda Aerospace's plan to contribute to Aatmanirbhar Bharat (self-reliant India).

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