Tonbo Imaging, a defence technology startup, has raised ₹175 crore in its Series D pre-IPO funding round from Florintree Advisors, Tenacity Ventures and the Export-Import Bank of India. The pre-IPO round valued the Bengaluru-based firm at ₹1,500 crore.
The fresh funds raised will be used to accelerate 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.
Tonbo has previously raised over ₹300 crore from investors such as Artiman, Qualcomm, Celesta, Edelweiss, and HBL Engineering.
Previously in 2023, HBL Power Systems invested ₹150 crore in Tonbo Imaging India as part of its Series C funding round. Earlier in 2017, Tonbo had raised $17 million in a Series B funding round at a valuation of ₹400 crore. The round was led by WRV Capital, along with participation from Qualcomm Ventures and Edelweiss Private Equity.
Arvind Lakshmikumar, Founder and CEO of Tonbo Imaging, said, “Tonbo was founded with the vision of democratizing access to high-end defense technology. As the modern-day battlefield evolves towards nimble, autonomous reconnaissance and targeting systems, the key technologies will be better sensors, low-power computer vision and non-conventional munitions. This investment enables us to push the boundaries of innovation in infrared imaging and directed energy solutions while scaling our global footprint. Our focus remains on delivering cost-effective, cutting-edge battlefield intelligence and protection systems to modern defense forces worldwide.”
Mathew Cyriac, Founder of Florintree Capital, said, “Tonbo Imaging represents the future of defense technology. With its deep expertise in imaging, artificial intelligence, and autonomous systems, the company is well-positioned to address emerging global security challenges. 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.”
Rohit Razdan, Co-founder of Tenacity Ventures said, “We have admired Tonbo for a while and are excited to get a chance to invest towards the next phase of growth. Tenacity was formed to support companies like Tonbo – best-in-class products rooted in deep technology and domain understanding. Tonbo products bring great software with high-quality hardware that is seeing strong traction in domestic and global markets. We are confident that Tonbo will emerge as a significant India-based global leader in this defence sector over the next several years.”
Founded in 2012 by Arvind Lakshmikumar, Tonbo Imaging designs sensing and processing systems that enhance situational awareness, targeting precision, and autonomous battlefield operations. Tonbo Imaging blends optics, AI, and computer vision to create advanced surveillance and targeting systems that work across land, air, and sea.
Tonbo Imaging offers a suite of solutions that address critical market needs in military reconnaissance, infrastructure security and transportation safety. The company’s offerings consist of sophisticated imaging products and intellectual property cores that can be licensed by OEMs and systems integrators.
Tonbo Imaging builds high-tech vision and targeting systems used in military operations worldwide. Tonbo has deployed its technology in over 30 countries by elite defense forces, including the Israeli Defense Forces (IDF), U.S. Navy SEALs, NATO, the Armenian Ministry of Defense, and the Indian Ministry of Defense.
