Indian defence tech startup Tonbo raises $20 million
The investment will boost the development of next-gen infrared sensors, deployment of high-power microwave tech, and working capital support for Tonbo Imaging’s global expansion ongoing programs.
Bengaluru-based Tonbo Imaging has closed its Series D pre-IPO funding round, securing ₹1.75 billion (about USD 20 million) from Florintree Advisors, Tenacity Ventures and the Export-Import Bank of India.
The pre-IPO round valued the defence technology startup at USD 176 million.
The new investment will boost the development of next-generation infrared sensors, commercial deployment of high-power microwave technologies to counter modern battlefield threats, and working capital support for global expansion ongoing programs, the Indian company said.
In a social media post the company said the investment will drive indigenous LWIR sensor fabrication to ensure strategic control over critical defense technology; advanced directed energy weapons that redefine the future of electronic warfare; and AI-driven battlefield intelligence for autonomous reconnaissance and precision targeting.
Tonbo has previously raised over ₹3 billion (about USD 35 million) from investors such as Artiman, Qualcomm, Celesta, Edelweiss, and HBL Engineering.
“This investment enables us to push the boundaries of innovation in infrared imaging and directed energy solutions while scaling our global footprint,” said Arvind Lakshmikumar, Founder and CEO of Tonbo Imaging. “Our focus remains on delivering cost-effective, cutting-edge battlefield intelligence and protection systems to modern defense forces worldwide.”
“We are excited to partner with Arvind and his management team to scale the business and build a global defense tech business out of India,” said Mathew Cyriac, Founder of Florintree Capital.
In 2017, the Indian startup had raised USD 17 million in a Series B funding round at a valuation of USD 47 million. That round was led by WRV Capital with participation from Qualcomm Ventures and Edelweiss Private Equity.
Tonbo’s technology is deployed in over 30 countries, including by the Israeli Defense Forces (IDF), US Navy SEALs, NATO, the Armenian Ministry of Defense, and the Indian Ministry of Defense.