New Delhi: Samtel Avionics on Wednesday said it has raised Rs 75 crore from True North Private Credit to fund growth and expansion. The deal also carries a green shoe option of Rs 140 crore for additional funding as the company scales up.
"This funding marks a significant milestone in Samtel Avionics' expansion strategy as it strengthens its capabilities in high-tech electronics for defence, aerospace, railways, as well as emerging sectors like satellites, and unmanned systems (UAVs/ Drones). "The capital will be deployed to accelerate research and development, expand manufacturing capacity, and drive adoption of advanced indigenous technologies for mission-critical applications," Samtel Avionics said in a statement.
Gurugram-based Samtel Avionics, part of the 50-year-old Samtel Group, supplies advanced and rugged electronic systems for the defence, aerospace and railway sectors. It has integrated capabilities covering design, development, manufacturing, testing and lifecycle support for mission-critical platforms. The company is also widening its portfolio to include UAV and satellite systems to cater to future defence and aerospace requirements.
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