Private Equity

VC Fund Investments

Defense Tech startup CoreEL raises $16-M from 360 ONE

Business Line  

Bengaluru-based CoreEL Technologies has raised an investment of USD 16 million from 360 ONE Asset (formerly IIFL Asset Management). The company designs, manufactures and supplies advanced electronic products and complex systems to the Indian aerospace and defence industry, including the Ministry of Defence. Its products have been deployed in India's next-generation radars, missiles, electronic warfare, avionics and sonars, amongst others. The new funding will be used for R&D, new product development, augmenting manufacturing capacity, and other initiatives.