With fresh backing from ValueQuest and 360 ONE, Bengaluru-based CoreEL is doubling down on R&D, manufacturing, and global defence programs.
CoreEL Raises $30M in Series B to Fuel Next-Gen Defence Tech
Bengaluru-headquartered aerospace and defence electronics firm CoreEL Technologies has raised $30 million (INR 268 Cr) in a Series B round led by ValueQuest Scale Fund, with continued support from 360 ONE Asset Management, its Series A backer.
The funding will accelerate CoreEL’s ambitions to scale manufacturing, boost R&D spend, and back its entry into large, complex defence programs both in India and globally.
“CoreEL’s vertically integrated model and focus on indigenous innovation positions it at the forefront of India’s defence tech wave,” said a ValueQuest partner familiar with the deal.
Betting on Strategic Electronics and Indigenous Defence
Founded in 1999, CoreEL has carved a niche by designing and manufacturing mission-critical electronic systems for aerospace and defence. It builds technologies that power radar, avionics, electronic warfare, secure communications, and SATCOM platforms.
Its primary clientele includes India’s Ministry of Defence, DRDO, and defence PSUs—critical players in a sector where import substitution and self-reliance are fast becoming non-negotiable.
- CoreEL was shortlisted by IN-SPACe for India’s first private Earth observation satellite consortium.
- Recently acquired Lekha Wireless’s aerospace and defence division, bolstering its IP portfolio and wireless comms capabilities.
What’s the next frontier? Tapping into the global defence supply chain as countries ramp up spending on secure, software-defined, and AI-enhanced warfare tech.
Surge in Investor Appetite for Defence Tech
CoreEL’s raise adds to a sharp uptick in investor interest in India’s aerospace and defence sector, fueled by geopolitical imperatives and the government’s push for Atmanirbhar Bharat.
According to Inc42, Indian defence startups bagged over $430 million in H1 2025 alone.
- Raphe mPhibr, a Noida-based drone maker, raised $100M in June 2025.
- Sanlayan Technologies closed a $21.7M Series A led by Ashish Kacholia and Jungle Ventures.
From anti-drone systems to radar modules, the funding landscape signals that deeptech, once investor-averse, is now drawing strategic capital at scale.
What does this mean for CoreEL? A ripe runway to scale into both Indian and global opportunities, riding a wave of rising defence budgets and tech localization.
CoreEL Technologies raised $30M in Series B funding led by ValueQuest Scale Fund, with 360 ONE Asset Management also participating. The Bengaluru-based defence electronics firm will use the capital to expand manufacturing, enhance R&D, and compete in complex aerospace and defence programs globally.
