The funds will be utilised to accelerate CoreEL’s growth plans including R&D, new product development, and augmenting manufacturing capacity
360 ONE Asset Management Ltd has committed to invest around USD 16 million (around Rs 134 crore) in CoreEL Technologies (India) Pvt Ltd (CoreEL), a technology development, systems engineering and products manufacturing company focusing on aerospace & defence segment, for a minority stake.
The funds will be utilised to accelerate CoreEL’s growth plans including R&D, new product development, and augmenting manufacturing capacity.
Headquartered in Bangaluru, CoreEL designs, manufactures and supplies advanced electronic products and complex systems to Indian aerospace & defence industry including the Ministry of Defence.
Its products have been deployed in India’s radars, missiles, electronic warfare, avionics and SONARS, amongst others, according to a CoreEL statement.