About Military Tech sector in India
The Military Tech sector in India comprises 195 companies, including 83 funded companies having collectively raised $890M in venture capital money and private equity. Out of these, 29 are Series A+ funded.
Military Tech sector in India has seen 4 acquisitions and 6 IPOs. This represents almost 5.1% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.
This sector includes companies that provide tech solutions & services such as hardware, software, and Tech-enabled services to military forces. Internet first brands selling military hardware.
Military Tech sector is also known as Defence Tech.
Companies included in Military Tech
Companies working in the domain of unmanned combat weapon systems, non-combat systems. It also includes virtual, constructive, and gaming training and simulation companies; and companies providing tech healthcare solutions to the militaryCompanies excluded in Military Tech
Diversified defense contractors which provide more than one solutions to the military; combat weapon manufacturers; manned combat & non- combat vehicles; MRO service providers; supply chain manufacturers, and subsystem & component manufacturers. It also excludes consultancy firms; content platforms, and companies providing offline and non-combat training servicesTop Military Tech Companies in India
There are more than 195 companies in Military Tech in India. Garuda Aerospace is the top Military Tech company in India, ranked using Tracxn Score (what's this?).
Here are 5 of the top Military Tech companies in India:
Company | Description | Location | Founded | Current Stage | Private Funding Raised |
|---|---|---|---|---|---|
India's leading drone manufacturer providing advanced solutions for diverse sectors | Chennai (India) | 2015 | Series B | $49.5M | |
Manufacturer of heavy-payload drones for logistics, defense, and disaster response | Bhubaneswar (India) | 2021 | Seed | $6.43M | |
Provider of drone solutions, training, and services across multiple industries | Pune (India) | 2017 | Public | $4.76M | |
Developer of sensing solutions for enhanced situational awareness and autonomous systems | Bengaluru (India) | 2003 | Series D | $44.4M | |
Developer of unmanned aerial vehicles | Navi Mumbai (India) | 2007 | Public | $53.8M |
Companies founded year-on-year in the Military Tech sector in India
20 Military Tech startups in India were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | 3 |
2024 | 15 |
2023 | 19 |
2022 | 12 |
2021 | 16 |
2020 | 20 |
2019 | 16 |
2018 | 19 |
2017 | 10 |
Stage-wise distribution of Military Tech sector companies in India
Out of the total 195 Military Tech companies in India, 83 have secured funding. Among them, 29 have reached Series A or higher, and 19 to Series B or beyond.
Founded - 195
Funded - 83
Series A+ - 29
Series B+ - 19
Series C+ - 12
Company Stage | No. of companies |
|---|---|
Founded | 195 |
Funded | 83 |
Series A+ | 29 |
Series B+ | 19 |
Series C+ | 12 |
Let us walk you through our Sectors and other offerings
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Funding Trends in the Military Tech sector in India
Total funding year-on-year in the Military Tech sector in India
The Military Tech sector in India saw a total funding of more than $843M in the last 10 years. The most amount of funding was in 2024 at more than $263M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $247M |
2024 | $263M |
2023 | $139M |
2022 | $75.2M |
2021 | $40.3M |
2020 | $18.3M |
2019 | $8.47M |
2018 | $16.6M |
2017 | $29.4M |
Recent Funding Rounds in Military Tech in India
In the year 2025, till December 2025, Military Tech companies in India have raised $247M in equity funding across 30 rounds.
In the same period last year (i.e. till December 2024), Military Tech companies in India had raised $125M across 42 rounds.
So, 2025 has seen a 97.04% rise in funding in Military Tech companies in India as compared to 2024.
Here are some recent, important funding rounds in Military Tech companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series B | 7189 | Dec 23, 2025 | and 1 more | |
Series A | 8943 | Dec 15, 2025 | ||
Seed | 7317 | Nov 04, 2025 | ||
Seed | 5036 | 2025 | ||
Angel | 9583 | 2025 |
_1522755199860.png?devicePixelRatio=2&height=20&width=20){kind=logo}
Top Investors in Military Tech in India
iDEX is the top investor in Military Tech companies in India based on number of companies invested.
Here are some top investors in Military Tech companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Delhi (India) | ||
Cambridge (United States) | ||
Coimbatore (India) | ||
Palo Alto (United States) | ||
Bengaluru (India) |
_1583471524200.png?devicePixelRatio=2&height=20&width=20){kind=logo}
M&A activity in Military Tech sector in India
In the year 2025, till October 2025, 1 acquisition happened in Military Tech sector in India.
Here are some recent, important acquisitions in Military Tech sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Oct 27, 2025 | ||
Acqui-Hired | Oct 01, 2019 | ||
Business Acquisition | Dec 13, 2018 | ||
Business Acquisition | Aug 14, 2018 | ||
Acqui-Hired | Dec 11, 2012 |
_1557288664385.png?devicePixelRatio=2&height=20&width=20){kind=logo}
Acquisition trends in Military Tech sector in India
Here are the acquisition trends in Military Tech sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 1 |
2024 | - |
2023 | - |
2022 | - |
2021 | - |
2020 | - |
2019 | 1 |
2018 | 2 |
2017 | - |
IPOs in Military Tech in India
In the year 2024, till December 2024, 1 IPO happened in Military Tech sector in India.
Here are some recent, important IPOs in Military Tech sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Dec 03, 2024 | National Stock Exchange (NSE) | |
Jul 07, 2023 | National Stock Exchange (NSE), Bombay Stock Exchange (BSE) | |
Dec 23, 2022 | Bombay Stock Exchange (BSE) | |
Mar 30, 2015 | National Stock Exchange (NSE) | |
Aug 11, 2012 | Bombay Stock Exchange (BSE) |
Colleges which produce the most Military Tech companies in India
Companies founded by alumni from top colleges in the Military Tech in India
Most number of Military Tech startups in India have been founded by alumni from IIT Delhi, IIT Bombay and IIT Kanpur.
College | No. of companies |
|---|---|
IIT Delhi | 9 |
IIT Bombay | 6 |
IIT Kanpur | 6 |
BITS Pilani | 5 |
Carnegie Mellon University | 4 |
IIM Calcutta | 3 |
IIT Kharagpur | 2 |
IIT Madras | 2 |
University of Delhi | 2 |
Anna University | 1 |
Total funding in Military Tech companies founded by alumni from top colleges in India
In the last 10 years, IIT Delhi graduates' Military Tech companies in India have raised the most funding among top colleges. IIM Calcutta alumni are second, and IIT Bombay alumni are third.
College | Total Funding |
|---|---|
IIT Delhi | $135M |
IIM Calcutta | $132M |
IIT Bombay | $77.8M |
BITS Pilani | $54M |
Anna University | $49.5M |
Harvard Business School | $49.5M |
IIT Kanpur | $18.7M |
Carnegie Mellon University | $12.5M |
IIT Kharagpur | $10.3M |
London Business School (LBS) | $7.26M |
Top News in Military Tech in India
•
•
Garuda Aerospace sets up agri-drones indigenisation facility near ChennaiYourStory•Jun 14, 2025•Garuda Aerospace
•
IG Drones, VoxelSensors Partner For Smarter UAVselectronicsforyou.biz•Jun 12, 2025•IG Drones, VoxelSensors
•
IG Drones & VoxelSensors Join Forces to Elevate UAV Navigation in GPS-Denied Zones
IndianWeb2•Jun 12, 2025•IG Drones, VoxelSensors
•
Garuda Aerospace Invests In Defence Drone Start-up ZuppaThe Hindu•Mar 06, 2025•Garuda Aerospace, ZUPPA
•
Aerpace Ind. Standalone December 2024 Net Sales at Rs 0.39 crore, up 29.67% Y-o-YMoneycontrol•Feb 10, 2025•aerpace
•
VC firm Finvolve aims to invest Rs 300-350 Cr in 2025YourStory•Feb 10, 2025•Finvolve, Matter Labs, Samosa Party, Zulu Defence
•
•
Garuda Aerospace to invest Rs 100 Cr to develop Drone City in Andhra PradeshYourStory•Jan 31, 2025•Garuda Aerospace
•
