India, Dec. 23 -- Bengaluru-based aerospace and defence technology company CoreEL Technologies has raised $30 Mn (about INR 268 Cr) in its Series B funding round.

The round was led by ValueQuest Scale Fund and saw participation from existing investor 360 ONE Asset Management, which led the company's Series A round.

CoreEL plans to use the fresh capital to scale its manufacturing capacity, increase spending on R&D, and fund participation in large and complex aerospace and defence programmes in India and overseas.

Founded in 1999, CoreEL supplies system-level products and specialised electronic modules for strategic and commercial defence applications.

It designs, develops and manufactures electronic systems and sub-systems used in rada...