In its most recent funding round, Big Bang Boom, a defense sector startup, has secured Rs 250 crore.
The team of Negen Wealth facilitated the financing, which was led by marquee investors such as Mumbai Angels Network, Vyom Family Office, SBI Startup Branch Chennai, Asquare Investing, and others.
The company, which specializes in Electronic Warfare, Nanotechnology, and Artificial Intelligence (AI), has recently expanded its operations to the African continent as part of the Indian Ministry of Defence delegation that visited Kenya, Algeria, Tanzania, and Mozambique.
Read also – Capital A Launches Second Fund of Rs 400 Cr
The funding is in response to the government’s recent Rs 200 crore agreement with the Ministry of Defence for indigenous anti-drone technology, which was signed in March of this year.
Praveen Dwarakanath, CEO, Big Bang Boom Solutions, said: “Building a defence business requires patient capital. But expecting investors to have a 25 year horizon is a pipe dream. We therefore looked at the problem through a different lens. We decided to rotate the capital table 8 times in 25 years giving investors timely exits and an option to stay on,”
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