CoreEL Technologies, a Bengaluru-based aerospace and defence electronics company, has secured $30 million in Series B funding, led by ValueQuest Scale Fund, with continued participation from existing investor 360 ONE Asset.
According to a company statement, the funds will be deployed to expand manufacturing capacity, strengthen its presence in large-scale defence programmes, and enhance research and development, product engineering, and execution of complex aerospace and defence projects in India and international markets.
360 ONE Asset, which had led CoreEL’s Series A funding round, further increased its stake in the company by participating in the latest investment.
Founded in 1999, CoreEL Technologies specialises in the design, development, and manufacturing of electronic systems and sub-system-level products used in radar systems, electronic warfare, avionics, and military communications. Its key customers include the Defence Research and Development Organisation (DRDO), defence public sector undertakings, and the Ministry of Defence.
The funding follows CoreEL’s recent acquisition of the aerospace and defence systems division of Lekha Wireless, which significantly expanded its communications portfolio. The acquisition added indigenous intellectual property and specialised engineering capabilities, strengthening the company’s offerings in military communications, including secure data links and SATCOM-enabled solutions.
Commenting on the development, Vishwanath Padur, Managing Director of CoreEL Technologies, said the company has built a reputation for delivering complex, mission-critical electronic systems to India’s armed forces through DRDO and defence PSUs. He added that the latest funding underscores investor confidence in CoreEL’s long-term vision and engineering expertise.
Pushkar Jauhari, Managing Director and Head of Private Equity at ValueQuest, noted that the investment aligns with the firm’s focus on indigenous development and CoreEL’s strategic position within India’s aerospace and defence ecosystem.
The transaction was advised by Steer Advisors, which had also assisted CoreEL during its Series A fundraise.
