New Delhi, April 3 -- Defence technologies company Tonbo Imaging India Pvt Ltd has raised Rs 175 crore ($20.5 million) in its Series D funding round from Florintree Advisors, Tenacity Ventures and the Export-Import Bank of India ahead of its planned initial public offering.
Bengaluru-based Tonbo said it plans to use the investment to accelerate the development of next-generation infrared sensors, commercial deployment of high-power microwave technologies to counter modern battlefield threats, and working capital support for ongoing global expansion programs.
The funding comes as Tonbo prepares to file for its IPO.
"This investment enables us to push the boundaries of innovation in infrared imaging and directed energy solutions while scaling our global footprint. Our focus remains on delivering cost-effective, cutting-edge battlefield intelligence and protection systems to modern defence forces worldwide," said Arvind Lakshmikumar, founder and chief executive officer of Tonbo Imaging.
Tonbo Imaging designs sensing and processing systems to improve situational awareness, targeting precision, and autonomous battlefield operations. It has previously raised over Rs 300 crore from investors such as Artiman, Qualcomm, Celesta, Edelweiss, and HBL Engineering. In the past, it also raised venture debt from alternative credit platform BlackSoil Capital.
It claims that its technology is deployed in over 30 countries by elite defence forces, including the US Navy SEALs, NATO, and the Indian armed forces.
"Tonbo Imaging represents the future of defence technology. With its deep expertise in imaging, artificial intelligence, and autonomous systems, the company is well-positioned to address emerging global security challenges," said Mathew Cyriac, founder of Florintree Capital.
Published by HT Digital Content Services with permission from VC Circle.