Samtel Avionics, a key player in India’s defence technology sector, has secured ₹75 crore in growth funding from firm True North Private Credit.
The investment also includes a green shoe option of ₹140 crore, enabling additional capital infusion as the company scales.
The funding will fuel the company’s growth and expansion to deliver diversified solutions across critical sectors such as defence, aerospace, railways, satellites and unmanned systems.
The funding strengthens the company’s capabilities in high-tech electronics for defence, aerospace, railways.
The capital will be deployed to accelerate research and development, expand manufacturing capacity and drive adoption of advanced indigenous technologies for mission-critical applications.
Puneet Kaura, Managing Director & CEO, Samtel Avionics, said the investment received not only validates the company’s technological capabilities but also reinforces the company’s commitment towards building indigenous solutions for mission-critical applications across defence, aerospace and emerging domains.
It will strengthen the company’s ability to scale rapidly, deepen R&D efforts and significantly contribute towards India’s self-reliance and technological leadership, he said.
Kapil Singhal, Managing Partner, Private Credit of True North, said Samtel Avionics has established exceptional engineering capabilities in defence avionics.
The next decade will offer significant growth opportunities to Samtel with the government’s focus on indigenisation and modernisation of defence capabilities, he said.