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aerospace / news / / Devdiscourse

CoreEL Technologies has successfully raised $30 million in Series B funding.

CoreEL Technologies raised $30 million in Series B funding led by ValueQuest Scale Fund.

KEY POINTS
CoreEL Technologies, a prominent player in advanced electronic systems for the aerospace and defence sectors, has successfully raised $30 million in Series B funding. The round was chiefly led by ValueQuest Scale Fund, with significant support from 360 One Asset. 360 One Asset, which had previously been an early institutional investor in CoreEL, has increased its stake, reinforcing confidence in the company's growth and innovation strategy. The funding marks a pivotal point in CoreEL's journey, underscoring its commitment to pioneering R&D and expanding its product engineering capabilities. This capital injection will enhance CoreEL's manufacturing, strengthen its R&D, and support its participation in major aerospace and defence programs both domestically and internationally. The investment follows the acquisition of Lekha Wireless's Aerospace and Defence Systems division, further bolstering CoreEL's communication systems expertise. (With inputs from agencies.)
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