360 One Asset backs CoreEl Technologies for $16M

360 ONE Asset, previously known as IIFL Asset, has pledged a $16M investment in CoreEL Technologies, an Indian company that specializes in technology development, systems engineering and product manufacturing, with a primary focus on the aerospace and defense sector.

• Funding Allocation: Expediting CoreEL’s growth plans, supporting extensive research and development, launching new product developments, expanding manufacturing capacity, and funding other strategic initiatives.

• Future Plans: Vishwanath Padur, Managing Director at CoreEL Technologies, expressed his excitement about the investment saying it will bolster their growth plans, particularly in increasing manufacturing capacity, and enhance their capability to contribute to large aerospace and defence programs.

• Company History: CoreEL, headquartered in Bangalore, is known for designing, manufacturing, and supplying advanced electronic products and complex systems to the Indian aerospace and defence industry, including the Ministry of Defence. Their products are an integral part of India’s next-generation radars, missiles, electronic warfare, avionics and sonars.

360 ONE AMC, a component of 360 ONE, is among India's top-tier alternate asset management firms, managing assets and public market mandates valued over $7B. Their private equity business, 360 ONE Private Equity (PE), has an asset under management of approximately $2.5B, backing several market-leading companies across healthcare, technology, financial services, and consumer industries.