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360 ONE backs defence startups with Rs 1,500 crore fund
Livemint··5d ago
Former government scientists and repeat founders are launching defence ventures as indigenisation accelerates, Livemint reported, citing 360 ONE Asset executive Abhishek Nag. The firm recently raised a Rs 1,500-crore fund for defence and aerospace. Nag cited iDEX and ADITI roadmaps showing spend and order values. The government earmarks 25 percent of defence research and development for private firms.
Prism
What It Means For You
- Startup founders with defence lab experience can bid on iDEX challenges with clearer customer demand signals.
- Investors backing aerospace funds expect 15 to 20 portfolio companies under 360 ONE's stated plan.
- Second-time entrepreneurs entering robotics may compete for the same ministry procurement pipelines as hardware startups.
What's Happening
- Nag said armed forces and labs have been open about needs, budgets and potential order sizes.
- Portfolio company Sisir Radar was founded by a former ISRO innovations management head, the report said.
- Skyroot Aerospace and Red Balloon Aerospace founders also came from ISRO backgrounds, examples in the story noted.
India's defence venture capital wave
- 360 ONE announced a Rs 1,000-crore defence fund in January with a Rs 500-crore greenshoe option.
- Make in India and ADITI schemes aim to cut import dependence on critical defence technologies.
- Anti-drone manufacturer Armory's founder previously worked at listed drone maker ideaForge before launching out.
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