360 ONE AMC invests USD 16 million in CoreEL Technologies, an aerospace & defence tech company, for minority stake. The funding will be used for R&D, new product development and manufacturing capacity.
Bengaluru, Dec 5 (PTI) 360 ONE Asset Management Ltd has committed to invest around USD 16 million (around Rs 134 crore) in CoreEL Technologies (India) Pvt Ltd (CoreEL), a technology development, systems engineering and products manufacturing company focusing on aerospace & defence segment, for a minority stake.
The funds will be utilised to accelerate CoreEL's growth plans including R&D, new product development, and augmenting manufacturing capacity.
Headquartered in Bangaluru, CoreEL designs, manufactures and supplies advanced electronic products and complex systems to Indian aerospace & defence industry including the Ministry of Defence.
Its products have been deployed in India's radars, missiles, electronic warfare, avionics and SONARS, amongst others, according to a CoreEL statement.
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