360 ONE Asset: 360 ONE Asset Management Ltd. (formerly known as IIFL Asset Management Ltd.) has contributed $16 million to the Series A fundraising round for CoreEL Technologies, a Bengaluru-based manufacturer of aerospace and defence components. The money will be used to quicken CoreEL’s expansion goals, which include increasing manufacturing capacity, developing new products, and conducting research and development, among other things.
Managing director of CoreEL Technologies Vishwanath Padur stated, “CoreEL has delivered several critical electronic modules and sub-systems to DRDO, MOD, and overseas customers.” “With this investment, we will be able to strengthen our participation in significant aerospace and defence programmes and further accelerate our growth plans, which include increasing manufacturing capacity.”
Advanced electronic goods and sophisticated systems are designed, manufactured, and supplied by CoreEL to the Indian aerospace and military industry, which includes the Ministry of military. Next-generation radars, missiles, electronic warfare, avionics, and SONARS (sound navigation and ranging) systems in India have all been equipped with its equipment.
Ukraine plans to produce 100-km-range air defence systems
360 ONE Asset
Government initiatives like Atmanirbhar and DAP 2020, according to Nidhi Ghuman, senior executive vice president of 360 ONE AMC, are emphasising indigenization and self-reliance more than before. This is bringing about a seismic transformation in the nation’s industry structure and business potential for private companies.
According to Ghuman, “CoreEL has built strong domain capabilities in several areas of defence electronics.” “We are thrilled to be working with the founders and management team of CoreEL as they set out on this revolutionary path to become the most valuable partner to the Indian aerospace and defence sector.”
With total alternate assets and public market mandates of over $7 billion, 360 ONE Asset Management Limited, a division of 360 ONE, is one of India’s top alternative asset management companies.
