360 ONE Asset invests $16 million in CoreEL Technologies

The investment aims to secure a minority stake in CoreEL and will be allocated to expedite the company's growth strategies, encompassing research and development, the creation of new products, expansion of manufacturing capabilities, and other pertinent initiatives, noted the company.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Bengaluru-based aerospace and defence products manufacturer CoreEL Technologies has secured $16 million ( Rs 133.4 crore) in a Series A funding round from 360 ONE Asset Management Ltd (formerly IIFL Asset Management Ltd).

Wealth manager 360 ONE Asset Management Limited, formerly IIFL Asset Management Limited, has pledged to invest around $16 million in Bengaluru-based aerospace and defence products manufacturer CoreEL Technologies (India) Private Limited, the company said on December 6.

The company will pick a minority stake in CoreEL and funds allocated towards research and development, new products and expansion of manufacturing capabilities, 360 ONE Asset Management said.

"We are excited about partnering CoreEL’s founders and management team as they embark on this transformational journey to become the most valuable partner to the Indian defence & aerospace industry," Nidhi Ghuman, Senior Executive Vice President, 360 ONE AMC, said.

Also Read | Tech is at the forefront of India’s foreign policy: EAM Jaishankar

CoreEL is engaged in the design, production, and supply of advanced electronic products and intricate systems to the Indian aerospace and defence industry as well as the defence ministry. The company's electronic solutions play a key role in the cutting-edge radars, missiles, electronic warfare and more.

Also Read | Here’s why Bengaluru is special for Booking.com where it looks to ramp up hiring

CoreEL managing director Vishwanath Padur said the investment would support the company’ evolution into a world-class electronic product and systems development company.

The company delivered critical electronic modules and sub-systems to Defence Research & Development Organisation, the defence ministry and overseas customers, he said.

The investment would accelerate CoreEL's growth plans, particularly in expanding manufacturing capacity and participating in major aerospace and defence programmes, Padur said.