4 days Ago
Defence technology startup Tonbo Imaging has closed its Series D pre-IPO funding round, securing ₹175 crore from Florintree Advisors, Tenacity Ventures and the Export-Import Bank of India. The pre-IPO round valued the Bengaluru-based firm at ₹1,500 crore. This investment will accelerate the development of next-generation infrared sensors, commercial deployment of high-power microwave technologies to counter modern battlefield threats and working capital support for global expansion ongoing programs, the company said in a statement.
Tonbo has previously raised over ₹300 crore from investors such as Artiman, Qualcomm, Celesta, Edelweiss, and HBL Engineering. "This investment enables us to push the boundaries of innovation in infrared imaging and directed energy solutions while scaling our global footprint. Our focus remains on delivering cost-effective, cutting-edge battlefield intelligence and protection systems to modern defense forces worldwide," said Arvind Lakshmikumar, Founder and CEO of Tonbo Imaging.
"We are excited to partner with Arvind and his management team to scale the business and build a global defense tech business out of India," said Mathew Cyriac, Founder of Florintree Capital. Earlier in 2017, Tonbo had raised $17 million in a Series B funding round at a valuation of ₹400 crore. The round was led by WRV Capital, along with participation from Qualcomm Ventures and Edelweiss Private Equity.
Tonbo's technology is deployed in over 30 countries by elite defense forces, including the Israeli Defense Forces (IDF), US Navy SEALs, NATO, the Armenian Ministry of Defense, and the Indian Ministry of Defense..
