rediff.com

CoreEL Technologies Secures USD 16 Million Funding

Share on:

By Rediff Money Desk, BENGALURU   Dec 05, 2023 15:15

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.
CoreEL Technologies Secures USD 16 Million Funding
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.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

TODAY'S MOST TRADED COMPANIES

  • Company Name
  • Price
  • Volume

More »

Moneywiz Live!