CoreEL Technologies India Private Limited, a provider of advanced electronic systems and sub-systems for the aerospace and defence sectors, has raised USD 30 million in a Series B funding round. The investment was led primarily by ValueQuest Scale Fund, with strong participation from 360 ONE Asset. 360 ONE Asset, which had led CoreEL’s Series A round as its first institutional investor, increased its holding by participating again, reflecting continued confidence in the company’s growth strategy and execution capability.
The latest funding round marks an important stage in CoreEL’s development and reinforces its research-led approach to building high-performance electronic products for strategic applications. The capital will be used to expand manufacturing infrastructure, strengthen research and engineering capabilities, enhance product development, and support participation in large and complex aerospace and defence programmes in India and international markets.
Based in Bengaluru, CoreEL designs, develops, and manufactures electronic systems and sub-systems for use in radar, electronic warfare, avionics, and military communications. The company has delivered several high-end, mission-critical solutions to both strategic and commercial customers, including DRDO, defence public sector undertakings, and the Ministry of Defence.
The funding follows CoreEL’s recent acquisition of the aerospace and defence systems business of Lekha Wireless, which expanded its portfolio in communication technologies. The acquisition added indigenous intellectual property, specialised engineering talent, and proven wireless solutions, strengthening CoreEL’s position in the military communications domain.
Vishwanath Padur, Managing Director of CoreEL Technologies, said the investment reflects investor confidence in the company’s long-term vision, engineering strength, and ability to deliver complex systems for critical defence programmes.
Pushkar Jauhari, Managing Director and Head of Private Equity at ValueQuest, noted that CoreEL’s focus on indigenous development and technological capability aligns with efforts to strengthen India’s aerospace and defence ecosystem.
Umesh Agrawal, Fund Manager at 360 ONE Asset and Nominee Director on CoreEL’s board, said the company has built strong foundations in electronic systems development and is well positioned for its next phase of growth. Steer Advisors acted as the sole transaction advisor for the fundraise.
Founded in 1999, CoreEL Technologies is a systems engineering and technology solutions company serving India’s aerospace and defence industry. The company designs and manufactures advanced electronic products and complex systems deployed across avionics, radars, missiles, electronic warfare, military communications, and sonar applications. CoreEL has received multiple recognitions from the Ministry of Defence, DRDO, and industry bodies for its innovation and engineering excellence.
