DeepTech and Defence technology startup Optimized Electrotech on Tuesday raises Rs 200 million in a Pre-Series B round for its expansion.
The equity round was led by the Rajiv Dadlani Group and also saw participation from Equanimity Investments and reputed Family Offices and HNI investors. Venture Catalysts strengthened their position with further investment in this round. Earlier investors include GVFL and Dholakia Ventures.
The funds will be used to design the surveillance systems, and product innovations, and also help in further business development in the aerospace and defence sectors with a market potential of over $7.3 Billion.
“Innovation is our backbone. Conventional surveillance has been limited to post-facto analysis with human operators spending time and effort in threat discovery. Our Intelligent Surveillance platforms bridge this gap, by providing real-time, actionable Intelligence to our security forces.” says Sandeep Shah, Co-Founder, Managing Director, Optimized Electrotech.
“India’s security is of paramount importance. The innovative solutions provided by Optimized Electrotech are bound to ensure strategic stability for our country’s defence. We keenly look forward to helping the organisation innovate and deliver state-of-the-art surveillance systems, and we are certain of their inexorable growth in the times ahead.” Apoorva Ranjan Sharma, Founder and President of Venture Catalysts said.