CoreEL Technologies, a Bengaluru-based defense electronics firm, has secured $30 million in funding from private equity investors ValuQuest and 360 One Asset Management, marking a significant step in its growth strategy as India intensifies efforts to bolster indigenous defense manufacturing. According to the original article titled, “Defence electronics firm CoreEL Technologies raises $30 million from ValuQuest, 360 One Asset,” published by the Economic Times, the capital infusion will be used to expand CoreEL’s capabilities in high-technology areas critical to both defense and aerospace sectors.
Founded in 1999, CoreEL specializes in developing complex electronic systems for applications in radar, electronic warfare, and satellite communications. It has emerged as a key contributor to India’s defense ecosystem, aligning closely with the government’s ‘Atmanirbhar Bharat’ campaign that aims to reduce reliance on foreign technology and imports in critical defense infrastructure. The Economic Times notes that the investment signals growing investor confidence in the country’s defense manufacturing sector, which has attracted heightened interest following a series of defense procurement policy reforms.
CoreEL’s Managing Director, Ravi Subramanian, stated that the funding would accelerate the company’s research and development efforts and facilitate scaling up manufacturing capabilities to meet growing domestic and international demand. The company is expected to deepen its collaboration with entities like the Defence Research and Development Organisation (DRDO) and various public sector undertakings to build advanced systems tailored to the needs of Indian armed forces.
ValuQuest and 360 One Asset Management bring more than capital to the table. The investors have indicated an active role in strategic oversight, aiming to enhance CoreEL’s operational scale and global competitiveness. As reported in the Economic Times, the investment is structured to support both organic and inorganic growth, with the potential for acquisitions in adjacent technology domains.
This development arrives at a time when India is increasingly looking to integrate private-sector innovation into its broader defense architecture. Recent government initiatives, including the creation of defense corridors and initiatives to ease procurement norms for Indian companies, have underscored opportunities for both startups and established players in the sector.
CoreEL’s successful fundraising is indicative of a larger shift underway in India’s defense manufacturing landscape—one where homegrown companies are demonstrating the capacity and ambition to become global contenders in high-tech defense innovation.
