Optimized Electrotech Raises $1.8 Million in Pre-Series A Funding Round
Ahmedabad: Mumbai-based incubator Venture Catalysts has led a $1.8 million round in defence-tech startup Optimized Electrotech. The round also saw existing backer GVFL and other angel investors.
Optimized Electrotech was founded in 2017 by Sandeep Shah, Anil Yekkala, Dharin Shah, Kuldeep Saxena, and Purvi Shah.
The founding team, which is from IIT, IISc, ISI, and IIM, has worked with electronics, space and defence companies in India and abroad.
The Ahmedabad-based startup produces indigenously designed, developed and manufactured surveillance systems for security forces, national assets as well as defence and aerospace companies.
“Our investment vision aligns with Prime Minister Narendra Modi’s idea to make India self-reliant in the defence sector,” said Apoorva Ranjan Sharma, founder and managing director, Venture Catalysts.
Sandeep Shah, chairman and managing director of Optimized Electrotech, said that the company has a robust sales funnel worth Rs 95 crore from Indian and foreign original equipment makers for the next few years.
