CoreEL gets $30 million Series B to support aerospace defence projects

Bengaluru-based aerospace and defence technology firm CoreEL Technologies has raised $30 million in Series B funding to scale manufacturing in large defence programmes in India and overseas

Aerospace and defence technology firm CoreEL Technologies has raised $30 million in Series B funding to accelerate growth and deepen its focus on research and development (R&D). The round was led by ValueQuest Scale Fund, with participation from 360 One Asset.

 

How will CoreEL use the fresh capital? 

The company said the capital will be deployed across multiple initiatives, including scaling manufacturing capacity, strengthening R&D, advancing product engineering, and supporting participation in large and complex aerospace and defence programmes in India and overseas.

 

What does CoreEL specialise in? 

Bengaluru-based CoreEL designs, develops and manufactures advanced electronic systems and sub-system-level products for strategic applications across radar, electronic warfare, avionics and military communications (milcom) segments. Its key customers include the Defence Research and Development Organisation (DRDO), defence public sector undertakings and the Ministry of Defence.

 

“We continue to 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,” said Vishwanath Padur, managing director of CoreEL Technologies.

 

How does the Lekha Wireless acquisition fit into the strategy? 

The funding follows CoreEL’s recent acquisition of the aerospace and defence systems division of Lekha Wireless, which significantly expanded its communications systems portfolio. The acquisition added proven wireless communication technologies, indigenous intellectual property and specialised engineering talent, strengthening CoreEL’s capabilities in the milcom domain.

 

360 One Asset, an early institutional backer of CoreEL, had led the company’s Series A round and has further increased its stake by participating in the Series B funding.

 

Pushkar Jauhari, managing director and head of private equity at ValueQuest, said CoreEL’s strong positioning across the aerospace and defence domain, its proven technological capabilities, and its focus on indigenous development align well with the firm’s objective of investing in innovation-driven technology companies.