VC Fund Investments
Defence tech co Optimized Electrotech raises Rs.20-Cr
Optimized Electrotech, a Bengaluru-based defence technology startup, has raised INR 20 crore (about USD 2.4 million) in a pre-Series B funding round to expand its operations. The equity round was led by the Rajiv Dadlani Group, with participation from Equanimity Investments, Venture Catalysts and other angel investors. Previous investors including GVFL and Dholakia Ventures also invested. The company plans to use the fresh capital to design Intelligent Long Range Surveillance systems, focus on product innovations, and for business development in the aerospace and defence sectors. Optimized Electrotech uses artificial intelligence in developing surveillance platforms to assist governments, defence services, paramilitary forces, mining corporations, and civic bodies to respond to threats, including drone attacks.
From the Venture Intelligence PE-VC Deal Database: Between Feb-19 and Mar-21, Optimized Electrotech had raised over USD 2 M from GVFL and angel investors. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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