New Delhi, June 9 -- Defence electronics startup Sanlayan secured funding to expand its engineering base and manufacturing capabilities, while shopping assistance platform Roomstory received pre-seed funding to develop its platform for interior designers.
Sanlayan Technologies
Defence and aerospace startup Sanlayan Technologies has secured Rs 186 crore ($21.7 million) in a Series A funding round led by stock market veteran Ashish Kacholia, Lashit Sanghvi and venture capital firm Jungle Ventures. Existing investors Gemba Capital and Singularity Ventures, along with new investor Shastra VC, also participated in the round.
The latest round comes more than a year after Sanlayan raised Rs 36 crore in a round led by First Cheque@Jungle, an early-stage investment platform of Singapore-headquartered Jungle Ventures.
With the funding, Bengaluru-based Sanlayan will expand its engineering team fivefold within six months. The company is currently hiring domain experts, R&D scientists, retired armed forces veterans, and senior leadership from both public and private defence sectors.
Founded in 2023 by Abhijit Kothawale, Rohan Gala, and Rahul Vamsidhar, Sanlayan is an aerospace and defence startup which specializes in the design and development of advanced electronic systems, including radar, electronic warfare, and avionics. The founders have leadership experience from companies like L&T, Tata Advanced, Mahindra, ITC, Ola, RBS Bank, and Zetwerk.
The company plans to double down on its capacity building by acquiring Indian defence MSMEs, developing in-house technologies, and working with global companies.
In January, the defense startup acquired a majority stake in electronics systems maker Dexcel Electronics for $3 million in an all-cash deal. It has partnered with five Indian startups and foreign original equipment manufacturers (OEMs) to jointly develop technological solutions.
"We will continue to acquire capabilities both organically and inorganically. We are allocating capital for suo-moto development of critical technologies for CUAS (counter-unmanned aerial systems) and EW (electronic warfare) systems," said Rohan Gala, co-founder and CEO of Sanlayan.
"In the last six months, we have strengthened Dexcel's design and manufacturing capabilities and are now gearing up to execute large-scale indigenization and upgrade programs," Gala added.
Roomstory.ai
Roomstory.ai, a startup developing an AI-driven shopping assistant for interior design, has raised Rs 3 crore ($0.3 million) in a pre-seed round led by venture capital fund Rukam Sitara Fund.
The company said it will use the funding to enhance its AI capabilities, launch its website and mobile applications, and expand its user base while building a community of interior design enthusiasts.
Founded by Ekatva Jain, Sahil Lunia, and Punit Jain, Roomstory offers a tech-first approach to create and furnish interiors. The platform allows users to explore rooms and shop every item through direct links to retail partners, offering experience akin to Pinterest.
Published by HT Digital Content Services with permission from VC Circle.