Aerospace and defence electronics firm CoreEL Technologies has raised $30 million (around ₹250 crore) in a Series B funding round led by ValueQuest Scale Fund, with continued participation from existing investor 360 ONE Asset.
The funding round saw a majority contribution from ValueQuest Scale Fund, while 360 ONE Asset, which led CoreEL’s Series A round, also increased its stake, reaffirming confidence in the company’s growth trajectory and execution capabilities.
Founded in 1999, CoreEL Technologies designs, develops and manufactures advanced electronic systems and sub-systems for strategic applications in the Indian aerospace and defence sector. Its products are deployed across next-generation avionics, radars, missiles, electronic warfare systems, military communications (MILCOM) and sonar platforms.
CoreEL counts the Ministry of Defence (MoD), defence public sector undertakings, and the Defence Research and Development Organisation (DRDO) among its key customers, positioning it as a critical supplier within India’s defence ecosystem.
The company said the fresh capital will be utilised to expand manufacturing capacity, strengthen research and development, enhance product engineering, and support participation in large and complex defence programmes in India as well as international markets.
Commenting on the funding, Vishwanath Padur, Managing Director of CoreEL Technologies, said the investment reflects strong investor confidence in the company’s long-term strategy and engineering depth. He added that CoreEL continues to focus on delivering mission-critical, indigenous electronic systems for India’s Armed Forces.
ValueQuest Scale Fund’s Managing Director and Head of Private Equity Pushkar Jauhari said CoreEL’s focus on indigenisation and high-end defence electronics aligns well with the fund’s investment thesis.
The funding comes shortly after CoreEL’s acquisition of the aerospace and defence systems division of Lekha Wireless, which expanded its wireless communication capabilities, added proprietary IP, and strengthened its specialised engineering talent pool.
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