Vehant Technologies, an AI-powered security and surveillance solution provider, has raised a $9 million mezzanine round from the private credit fund of True North, a home-grown investment firm.
The company intends to invest 75% of the funds to increase its R&D activities, thus enhancing its current offerings and developing innovative solutions for aviation security, smart cities, and enterprise analytics. The remaining 25% will be focused on exports to key markets in the Middle East and Europe.
These strategic investments are expected to propel the company revenue up to ₹350 crore by FY26, setting the company’s foundation to accelerate further growth beyond the IPO. The funding received through a Non-Convertible Debenture (NCD) route, will hold significant importance for the company’s upcoming preparations for listing on an IPO within 12 to 18 months, by 2026. The company will hire 75+ R&D specialists to increase the team size to over 500+ members in order to stimulate its ambitious growth plans.
Kapil Bardeja, CEO and Co-founder of Vehant Technologies said, “This fund raise from True North will help us develop and launch more cutting-edge products in the areas of Aviation security, Smart and safe cities and Enterprise analytics solutions. It will also help us in geographical expansion in the Middle East and Europe. The support received from True North validates our vision and growth strategy. Additionally, we would like to extend a special thanks to Safire Capital for acting as our exclusive financial advisor.”
“We are happy to partner with Vehant at such a critical juncture of its growth journey. Run by high-quality founders, Vehant has demonstrated its leadership in technology among Indian peers in the security screening & surveillance space. We expect Vehant to be a big beneficiary of the government’s thrust on “Make in India” and our investment will strengthen its R&D capabilities and technology moat. Investment in Vehant aligns with True North Credit Fund’s investment philosophy of backing well-governed businesses with leadership positions in their sub-sectors,” said Kapil Singhal, Managing Partner, Private Credit at True North.
Founded in 2005 by Kapil Bardeja and Anoop Prabhu, Vehant Technologies is incubated at the Indian Institute of Technology (IIT) Delhi. The company aims to create a secure and smart world by providing made-in-India, in-house development of a wide range of cutting-edge solutions, including physical security systems, smart and safe city solutions, and enterprise analytics.
