Vehant Technologies Raises $9Million in Funding

AI-based security company Vehant Technologies has raised $9 million in funding through non-convertible debentures from True North's Private Credit fund.

Vehant plans to use 75% of the funds to boost its research and development, aiming to improve its current offerings and create new solutions for aviation security, smart cities, and enterprise analytics.

Vehant Technologies CEO and Co-founder Kapil Bardeja said in a statement. "This fundraise from True North will help us develop and launch more cutting-edge products in the areas of aviation security, smart and safe cities and enterprise analytics solutions. It will also help us in geographical expansion in the Middle East and Europe," 

The company plans to use the remaining 25% of the funds to expand into key markets in the Middle East and Europe.

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The statement said, "These strategic investments are expected to propel the company revenue up to Rs 350 crore by FY26, setting the company's foundation to accelerate further growth beyond the IPO. The funding received through a Non-Convertible Debenture (NCD) route, will hold significant importance for the company's upcoming preparations for listing with an IPO within 12 to 18 months, by 2026,".

Vehant plans to hire more than 75 research and development specialists, growing its team to over 500 members to support its ambitious growth plans.

Kapil Singhal, Managing Partner, Private Credit at True North said. "We expect Vehant to be a big beneficiary of the government's thrust on 'Make in India' and our investment will strengthen its R&D capabilities and technology moat. Investment in Vehant aligns with True North Credit Fund's investment philosophy of backing well governed businesses with leadership positions in their sub-sectors,".

About Vehant Technologies 

Vehant Technologies is a leader in AI-based physical security, surveillance, and traffic monitoring solutions. Their products are designed and developed locally to meet global standards and use advanced technologies like machine learning and deep learning.

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