CoreEL Technologies, a leading player in the field of Technology Development, Systems Engineering, and Products Manufacturing for the Aerospace and Defence sector, has recently received a substantial investment of approximately USD 16 million from 360 ONE Asset Management Limited, previously known as IIFL Asset Management Limited.

 

 

This investment, which represents a minority stake in the company, is set to propel CoreEL's growth and development by supporting vital areas such as Research and Development, new product innovation, and expansion of manufacturing capabilities.

 

With its headquarters based in Bangalore, CoreEL Technologies specializes in the design, production, and supply of advanced electronic products and complex systems for the Indian Aerospace and Defence Industry, including the Ministry of Defence.

 

The electronic solutions created by the company have been utilized in cutting-edge technology such as Radars, Missiles, Electronic Warfare systems, Avionics, and SONARS in India.

 

These solutions have gained recognition from esteemed organizations like the Ministry of Defence (MOD), the Defence Research and Development Organization (DRDO), and various industry associations for their innovative approach and products.

Vishwanath Padur, the Managing Director of CoreEL Technologies, expressed his excitement about the recent investment and the potential for growth it brings.

 

He stated, "CoreEL has transformed into a world-renowned company for Electronic Product/Systems Development, successfully delivering critical electronic modules and sub-systems to DRDO, MOD, and international clients. We continue to strive towards developing the most advanced Electronic Systems for numerous strategic programs."

 

He enthusiastically exclaimed, "We are absolutely thrilled to have received this investment from 360 ONE AMC, a highly regarded Private Equity firm in India. Their expertise in supporting growing companies is unmatched and we are grateful for their support. This investment will be a game-changer for us as we continue to expand and enhance our manufacturing capabilities, enabling us to take on even bigger Aerospace and Defence projects."

This significant investment serves as a testament to the confidence placed in CoreEL and our potential in the rapidly growing Aerospace and Defence industry in India.

Through this collaboration, we are confident that CoreEL will solidify our position as a top provider of cutting-edge electronic solutions for critical defence programs, both domestically and internationally. 

 

 

Source: ANI