360 ONE Asset invests USD 16 million in CoreEL Technologies to boost aerospace and defence growth
Headquartered in Bangalore, CoreEL Technologies specializes in designing, manufacturing, and supplying advanced electronic products and complex systems to the Indian Aerospace and Defence Industry, including the Ministry of Defence.
![360 ONE Asset invests USD 16 million in CoreEL Technologies to boost aerospace and defence growth](https://cdn.zeebiz.com/sites/default/files/2023/12/05/271485-3601105812924341331686235079980557256217890n.jpg?im=FitAndFill=(1200,900))
CoreEL Technologies, a player in Technology Development, Systems Engineering, and Products Manufacturing for the Aerospace and Defence sector, has secured a significant investment of approximately USD 16 million from 360 ONE Asset Management Limited (formerly known as IIFL Asset Management Limited) ("360 ONE AMC").
This funding, aimed at a minority stake, is expected to propel CoreEL's growth trajectory by facilitating Research and Development (R&D), new product development, expansion of manufacturing capacity, and other strategic initiatives.
Headquartered in Bangalore, CoreEL Technologies specializes in designing, manufacturing, and supplying advanced electronic products and complex systems to the Indian Aerospace and Defence Industry, including the Ministry of Defence.
The company's electronic solutions have found applications in India's cutting-edge Radars, Missiles, Electronic Warfare systems, Avionics, SONARS, and more.
CoreEL has garnered recognition from prestigious entities like the Ministry of Defence (MOD), the Defence Research and Development Organization (DRDO), and various industry associations for its innovative products and processes.
Vishwanath Padur, Managing Director of CoreEL Technologies, expressed enthusiasm about the investment and the growth prospects it opens up.
Padur said, "CoreEL has evolved to become a world-class Electronic Product/Systems Development company, having delivered several critical electronic modules and sub-systems to DRDO, MOD and Overseas customers. We are further working to develop some of the most advanced Electronic Systems for many strategic programs".
He added, "We are excited to have received this investment from 360 ONE AMC, one of India's leading Private Equity asset managers, with their experience across all aspects of helping a growing company. This investment will allow us to further accelerate our growth plans, including augmenting manufacturing capacity, and strengthen our ability to participate in large Aerospace and defence programs."
This strategic investment underscores the confidence in CoreEL's capabilities and the promising future of the Aerospace and Defence sector in India.
The collaboration is poised to strengthen CoreEL's position in delivering advanced electronic solutions for critical national and international defence programs.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-senior-citizen-fd-fixed-deposit-latest-interest-rate-2024-calculator-what-be-maturity-amount-with-return-on-investments-of-inr-900000-lakh-in-1-3-5-year-guaranteed-return-scheme-retirement-planning-313221](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316909-note-coin-pixabay-take-1.jpg?itok=3RPKcBYE)
SBI Senior Citizen FD Rates 2024: What you can get if you invest Rs 3 lakh, Rs 5 lakh, Rs 7 lakh, and Rs 9 lakh in 1-, 3-, and 5-year FDs
![https://www.zeebiz.com/market-news/photo-gallery-gmr-airports-infra-natco-pharma-finolex-industries-quick-heal-stocks-to-buy-axis-direct-check-targets-bse-nse-313340](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317042-stocks-to-buy.jpg?itok=J7cgqjWv)
GMR Airports Infra and 4 more: Axis Direct recommends buying 5 stocks for 5-15 days | Check targets, stop losses
![https://www.zeebiz.com/personal-finance/photo-gallery-mutual-fund-sip-vs-sukanya-samriddhi-yojana-which-offers-higher-returns-on-a-rs-20000-monthly-investment-over-15-years-benefits-features-interest-of-ssy-and-sip-highest-return-313329](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317036-6-63.jpg?itok=HAVy_1lC)
Mutual Fund SIP vs Sukanya Samriddhi Yojana: Which offers higher returns on a Rs 20,000 monthly investment over 15 years?
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-vs-ups-vs-ops-monthly-pension-income-retirement-corpus-calculator-what-will-be-your-pension-on-inr-rs-10000-contribution-for-35-years-expert-calculations-313361](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317060-rupee-pixabay-take-2.jpg?itok=cOVdof_v)
NPS vs UPS vs OPS: What will be your monthly pension if you contribute Rs 10,000 monthly for 35 years? Get expert calculations
![https://www.zeebiz.com/personal-finance/photo-gallery-top-7-etf-sip-mutual-funds-in-5-years-calculator-how-inr-rs-21000-monthly-investment-has-grown-in-nifty-sp-bse-next-50-cpse-uti-icici-pru-nippon-india-motilal-oswal-bharat-22-nift-mid-infra-313306](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316994-indian-currency-pixabay-take-1.jpg?itok=JURVEkst)
Top 7 ETF Mutual Funds With Highest SIP Returns in 5 Years: How Rs 21,000 monthly SIP has grown in each ETF over the years
![https://www.zeebiz.com/personal-finance/photo-gallery-sip-swp-monthly-pension-income-retirement-corpus-planning-calculator-inr-rs-20000-monthly-investment-for-15-years-inr-99000-monthly-return-for-42-years-313283](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316973-rupee-pixabay-take-1.jpg?itok=02-hJh59)
SIP+SWP: Rs 20,000 monthly SIP for 16 years to get Rs 99,000 monthly income for 42 years; how is it possible?
12:36 PM IST