Bengaluru-based defence technology startup Optimized Electrotech has raised Rs 20 crore in a pre-Series B funding round led by Rajiv Dadlani Group, with participation from Equanimity Investments, family offices, and high-net-worth investors.
The round also saw participation from Venture Catalysts, GVFL, and Dholakia Ventures. In April 2021, Optimized Electrotech raised $1.8 million in a pre-Series A round from Venture Catalysts. That round also saw participation from GVFL and other angel investors.
The company intends to use the new funds to create Intelligent Long Range Surveillance systems, concentrate on enhancing its products and expand its business operations in the aerospace and defence industries.
Founded by IIT, IISc, and IIM graduates who have worked with leading electronics, space, and defence organisations in India and abroad.
“Investing in Optimized Electrotech is a step towards investing in a secure India. Defence security and surveillance are of paramount importance in the current state of events of growing tensions across borders”. said Rajiv Dadlani.
“Optimized Electrotech has immense potential to be a market leader in surveillance technology. Sandeep and the team have a strong pedigree and rich experience and have built a strong foundation in their niche space. We are very excited to partner as long-term investors and support them in their journey,” Dadlani added.
Source @Indianstartupnews
