Defence electronics firm CoreEL Technologies raises $30 million from ValueQuest, 360 ONE Asset

Aerospace and defence electronics company-CoreEL Technologies has raised $30 million led by ValueQuest, with participation from existing investor 360 ONE Asset.

The fresh capital will be used to scale manufacturing, strengthen research & development and product engineering, and support participation in large and complex aerospace and defence programmes in India and overseas, the company said in a statement.

Founded in 1999 and headquartered in Bengaluru, CoreEL designs and manufactures advanced electronic systems and sub-systems used in radar, electronic warfare, avionics, and military communications (MILCOM). Its customers include the ministry of defence, defence public sector undertakings, and the Defence Research and Development Organisation (DRDO).


Vishwanath Padur, managing director, CoreEL Technologies, said, “We develop some of the most advanced electronic systems for strategic aerospace and defence programmes. This series B funding reflects strong investor confidence in our long-term strategy, engineering depth, and execution capability.”

The funding comes after CoreEL acquired the aerospace and defence systems division of Lekha Wireless to expand its capabilities in wireless communication systems. It also added intellectual property and specialised engineering talent to its portfolio through the acquisition.

Pushkar Jauhari, managing director and head of private equity at ValueQuest, said CoreEL’s focus on indigenous development, and its positioning across aerospace and defence electronics aligned with the firm’s investment focus on innovation-led technology companies.

Umesh Agrawal, fund manager, 360 ONE Asset, said CoreEL had built strong capabilities in electronic systems for aerospace and defence, supported by a clear strategic vision and an experienced management team. "We were the first institutional investor to back the team’s vision, and this investment reflects our conviction in the platform they are building," he added.