BENGALURU:
Tonbo Imaging, a Bengaluru-based startup that partners with the Indian military, has raised Rs 120 crore in series-B funding led by WRV Capital, the largest private venture investment in the domestic defence
technology space. The company with annual revenue of more than Rs 100 crore has been valued north of Rs 400 crore.
Qualcomm Ventures and Edelweiss Private Equity also participated in Tonbo's latest fund raise.
“We plan to spend the funds on scaling up our international operations, which constitutes 70% of our revenue, and invest in R&D and
product development on commercial businesses,“ chief executive Arvind Lakshmikumar said. “We are (also) looking at acquiring companies with expertise in lasers and photonics, and are in discussion with a few firms worldwide.“
The startup, founded in 2008 by BITS-Pilani alumni Lakshmikumar, makes advanced imaging & night-vision systems that are used for military, commercial applications.
m.economictimes.com
Tombo is Indian bro , they are raising fund from abroad , Indians can also participate . We don't know the terms and regulations