The round was led by ValueQuest Scale Fund and saw participation from existing investor 360 ONE Asset Management, which led the company’s Series A round
CoreEL plans to use the fresh capital to scale its manufacturing capacity, increase spending on R&D, and fund participation in large and complex aerospace and defence programmes in India and overseas
Bengaluru-based aerospace and defence technology company CoreEL Technologies has raised $30 Mn (about INR 268 Cr) in its Series B funding round.
Founded in 1999, CoreEL supplies system-level products and specialised electronic modules for strategic and commercial defence applications.
It designs, develops and manufactures electronic systems and sub-systems used in radar, avionics, electronic warfare, military communication (MILCOM), secure data links and SATCOM-enabled platforms.
The company largely works with government and defence-linked customers. It counts the Defence Research and Development Organisation (DRDO), defence public sector undertakings and the Ministry of Defence among its clients.
In the past, CoreEL was also among the consortia shortlisted by IN-SPACe for India’s first private Earth observation satellite project.
Recently, CoreEL acquired the aerospace and defence systems division of Lekha Wireless. The acquisition added wireless communication technologies, indigenous intellectual property and engineering teams, expanding CoreEL’s presence in military communication systems.
The fundraise comes amid rising investor interest in India’s defence and aerospace ecosystem. As per Inc42 data, defence tech startups raised over $430 Mn in the first half of 2025, driven by demand for indigenous electronics, radar systems, drones and anti-drone technologies.
One of the major rounds was raised by Raphe mPhibr, a Noida-based dronetech startup. It bagged $100 Mn (INR 857 Cr) in June 2025 in an undisclosed round led by General Catalyst, with participation from Think Investments, angel investor Amal Parikh, and family offices.
Similarly, Sanlayan Technologies secured INR 186 Cr ($21.7 Mn) in its Series A round, led by Ashish Kacholia, Lashit Sanghvi, and Jungle Ventures, in June 2025.
Curated by Dr. Elena Rodriguez
