Bengaluru-based aerospace and defense electronics company CoreEL Technologies has secured $30 million in a Series B funding round spearheaded by ValueQuest Scale Fund, along with contributions from existing investor 360 ONE Asset.

The firm aims to expand production and strengthen its involvement in major defense initiatives, it stated in a statement.

Moreover, the new funds will be allocated to enhance research and development, bolster product engineering, and facilitate involvement in intricate aerospace and defense initiatives both in India and abroad, the company stated.

360 ONE Asset, which headed CoreEL’s Series A funding round, boosted its ownership in the company by taking part once more in the recent capital raise.

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Established in 1999, CoreEL Technologies creates, engineers, and produces electronic systems and sub-system products utilized in radar, electronic warfare, avionics, and military communications. Its clients encompass the Defence Research and Development Organization (DRDO), public sector defence companies, and the Ministry of Defence.

The funding arrives just after CoreEL purchased the aerospace and defense systems branch of Lekha Wireless, a decision that broadened its communications portfolio and incorporated local intellectual property along with specialized engineering expertise. The purchase enhanced CoreEL’s abilities in military communications, encompassing secure data connections and SATCOM-supported solutions.

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“CoreEL has positioned itself as a top-tier electronic systems and product development firm, providing complex, mission-critical solutions to our Armed Forces via DRDO and defense PSUs,” said Vishwanath Padur, managing director of CoreEL Technologies, in the statement.

He also mentioned that the financing demonstrates investor trust in the company's long-term approach and engineering expertise.

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Pushkar Jauhari, managing director and head of private equity at ValueQuest, stated that the firm's investment thesis is in line with CoreEL’s emphasis on local development and its role in India’s aerospace and defence landscape.