VC Fund Investments
Defence-tech startup Tonbo raises Rs.175-Cr from Florintree, others
Bengaluru-based defence technology startup Tonbo has raised INR 175 crore in a Series D round of funding from Florintree Advisors and EXIM Bank ahead of its planned initial public offering. The pre-IPO round valued the company at INR 1,500 crore.Tonbo was founded in 2012 by Arvind Lakshmikumar and Cecilia D'Souza who collectively own about 20% of the firm. Tonbo. The company had previously raised more than INR 300 crore from Artiman, Qualcomm, Celesta, Edelweiss and HBL Engineering.Tonbo supplies vision equipment in the global security and defence market. Its clients include Defence Research and Development Organisation (DRDO) and the Indian Air Force. It also offers a range of military equipment including helmet-mounted night vision goggles, thermal weapon sights, and solutions for aerial reconnaissance missions.
Between Oct 2012 and Feb 2023, Tonbo Imaging had raised about USD 46 M from Artiman Ventures, Celesta Capital, Edelweiss Private Equity, Qualcomm Ventures and BlackSoil Capital.For FY24, Tonbo Imaging had reported about INR 428 Cr in Operating Income and about INR 69 Cr in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
