Tonbo Imaging, a defense technology company based in Bengaluru, raised Rs 175 crore, or $21 million, from the Export-Import Bank of India, Florintree Advisors, and Tenacity Ventures in its Series D pre-IPO round.
The money raised will help the business grow internationally and develop next-generation infrared sensors and advanced energy weapons.
Tonbo Imaging, founded by Arvind Lakshmikumar, combines computer vision, artificial intelligence, and optics to develop sophisticated targeting and surveillance systems that operate on land, in the air, and at sea. Its main goal is to create autonomous, lightweight platforms that can function in challenging combat environments.
High-tech vision and targeting systems used in military operations around the world are manufactured by Tonbo Imaging. The U.S. Navy SEALs, Israeli Defense Forces, NATO, and the Indian Army are just a few of the forces that already use its products, which improve battlefield awareness, in more than 30 countries.
Tonbo is preparing for its initial public offering (IPO) after raising more than Rs 300 crore in prior rounds from investors such as Qualcomm and Edelweiss.
