Mumbai, Apr 19 (PTI) Dynalog India, which supplies intelligent and rugged defence and industrial automation solutions, has raised USD 2.4 million (Rs 18 crore) from Maharashtra Defence & Aerospace Venture Fund backed by IDBI Capital.
For over three decades, Dynalog has been a prime supplier of turnkey solutions for ground-based static, mobile, airborne, and naval applications ranging from missile launcher controllers to electronic warfare and communication systems.
Apart from the defence sector, Dynalog also has a robust portfolio of clients engaged in industrial and factory automation, surveillance, oil & gas, power and transportation sectors, Dynalog India Managing Director Akshay Adhalrao, said in a statement.
The company has contributed to several prestigious missile programs such as Brahmos, Akash, Agni II, Shaurya and Pralay. It counts defence PSUs, DRDO Labs, and other system integrators as its clients.
Also Read | Moto G52 India Launch Set for April 25, 2022.
*** EV charger maker Tirex Transmission raises USD 2 mln *
Tirex Transmission, an EV charger manufacturer, has raised USD 2 million (over Rs 15.3 crore) from an ultra HNI investor.
This fund will be used to fuel its growth and R&D efforts for international markets where the US is the first country of focus, according to a statement.
The startup did not name its investor.
Founded by Sanskar Patel in 2017 in Ahmedabad, Tirex is one of the pioneers in the EV charger industry for DC fast chargers.
Tirex offers a complete range of fast and slow electric vehicle chargers for four-wheelers, commercial and passengers buses, trucks and more with a wide voltage range from 3.3KW to 360KW and all different connectors.
*** D2C-focused VC fund Fluid Ventures mops up Rs 50 cr in debut fund *
Fluid Ventures, direct-to-consumer focused VC fund, has made the final closure of its maiden fund mopping up Rs 50 crore as against the initial target of Rs 45 crore.
The fund floated by Amit Singal and Dhianu Das, has so far invested in six companies such as Fabriclore (e-retailer for fabric), Shumee Toys (wooden toys), WallMantra (home décor), Eske (luxury lifestyle), Raskik (coconut infused beverages) and Masterchow (Chinese condiment and sauce brand), since the launch and is focused on investing in consumer products. It typically invests Rs 1.50-3 crore in a startup.
The fund had announced its first close in June 2021 with participation from over 35 limited partners run by high net-worth CXOs and successful founders/entrepreneurs.
It had an initial target of Rs 45 crore, as per a statement.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)