AjnaLens raises $1.5 mn from Maharashtra Defence and Aerospace Venture Fund, others

AjnaLens (Dimension NXG) on Wednesday said it has raised USD 1.5 million in a funding round led by Maharashtra Defence and Aerospace Venture Fund (MDAVF).

Other HNI investors such as Nailesh Khimji, Chirayu Khimji, Jay Jesrani and Mohsin Group also participated in the pre-series A round, a statement said.

Founded in November 2014 by Pankaj Raut, Abhishek Tomar and Abhijit Patil, AjnaLens develops mixed reality glasses for defence, education and enterprise customers.

The startup will primarily use the funds to enhance its defence offering, manufacturing headsets, improving technology and product capabilities, the statement said.

It also intends to invest the funding for talent acquisition and market expansion.

"The tech industry is evolving at a rapid pace and the government as well as the educational institutes are also embracing this change...we were encouraged and provided complete support to design and manufacture all our products in India," AjnaLens co-founder and CEO Pankaj Raut said.

Previously, Dimension NXG has raised funding from Vijay Shekhar Sharma (Paytm founder), Japan Vyas (Roots Ventures founder) and Chetan Kajaria (Joint Managing Director at Kajaria Ceramics) among others.