In a mezzanine round, Vehant Technologies, a supplier of security and surveillance solutions, raised $9 million (about Rs 75 crore) from True North’s private credit fund.
According to a news statement from Vehant, the money will be used to expand its research and development efforts, improve its current products, create cutting-edge solutions for enterprise analytics, smart cities, and aviation security, and concentrate on exporting to important markets in the Middle East and Europe.
Vehant Technologies, which was co-founded in 2005 by Kapil Bardeja and Anoop Prabhu, is based at the Indian Institute of Technology (IIT) Delhi. By offering in-house, made-in-India creation of a wide range of innovative solutions, such as enterprise analytics, smart and safe city solutions, and physical security systems, the business hopes to build a safe and smart world.
By FY26, Vehant hopes to make up to Rs 350 crore in revenue and continue to expand after the IPO. The money, which was obtained through the Non-Convertible Debenture (NCD) route, will help the business become ready to list on the initial public offering (IPO) by 2026, which is expected to happen in 12 to 18 months.
To support its ambitious expansion objectives, the Noida-based firm claims it would add more than 75 R&D professionals to its staff, bringing the total number of employees to over 500. The company’s main goals are to spur innovation and meet the growing need for cutting-edge security and surveillance systems worldwide.
True North is a domestic investment company that offers both private finance and private equity. With more than Rs1,300 crore in cash raised, its private credit platform offers customized financing options to aid in the expansion of businesses.
