CoreEL raises $30M as India’s defence electronics push accelerates

Aerospace and defence tech firm CoreEL Technologies raised $30 million in a Series B round. 

CoreEL builds advanced electronic systems for strategic applications across radar, electronic warfare, avionics and MILCOM, serving clients like DRDO, defence PSUs and the Ministry of Defence. 

What’s going on: the round was led by ValueQuest Scale Fund, with continued backing from 360 ONE Asset. 

The fundraise comes shortly after CoreEL acquired the aerospace and defence systems division of Lekha Wireless. The deal added indigenous intellectual property, proven wireless technologies, and specialised engineering talent to CoreEL’s capabilities.

The capital will be used to scale manufacturing, boost R&D, and support large aerospace and defence programmes in India and overseas.

Zoom out: India’s aerospace & defence tech startup ecosystem is gaining real traction amid rising budgets and stronger policy support. India’s defence spending has crossed nearly $72 billion. Over 60% of this is capital procurement, driving demand for innovation and locally developed solutions.

India’s aerospace and defence materials market is on a steady growth path, expected to reach $412 million by 2030. Driven by a 6.7% annual rate, the expansion reflects rising defence spending.