About Military Tech sector in India
Top Military Tech Companies in India
Here is the list of top Military Tech startups in India
Key facts about Garuda Aerospace
- Founded Year: 2015
- Location: Chennai (India)
- Stage: Series B
- Total Funding till date: $49.5M
- Investors: Venture Catalysts, We Founder Circle and 171 Others
- Latest Funding Round: Series B, Jun 11, 2025, $*****
- Tracxn Score: 73/100 What is this?
- Competitors Rank: 2 of 1,302 Competitors

2. BonV Aero
Key facts about BonV Aero
- Founded Year: 2021
- Location: Bhubaneswar (India)
- Stage: Seed
- Total Funding till date: $6.43M
- Investors: Inflection Point Ventures, Headstart and 70 Others
- Latest Funding Round: Seed, Aug 14, 2025, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 2 of 82 Competitors

3. DroneAcharya
Key facts about DroneAcharya
- Founded Year: 2017
- Location: Pune (India)
- Stage: Public
- Total Funding till date: $4.76M
- Investors: Basukinath Properties, Wallstone Capital and 210 Others
- Latest Funding Round: Seed, Feb 17, 2022, $*****
- Tracxn Score: 68/100 What is this?
- Competitors Rank: 5 of 704 Competitors
Key facts about Tonbo Imaging
- Founded Year: 2003
- Location: Bengaluru (India)
- Stage: Series D
- Total Funding till date: $44.4M
- Investors: Celesta Capital, Exim Bank and 28 Others
- Latest Funding Round: Series D, Apr 03, 2025, $*****
- Tracxn Score: 66/100 What is this?
- Competitors Rank: 1 of 44 Competitors
5. ideaForge
Key facts about ideaForge
- Founded Year: 2007
- Location: Navi Mumbai (India)
- Stage: Public
- Total Funding till date: $53.8M
- Investors: Celesta Capital, Florintree and 52 Others
- Latest Funding Round: Series C, Jun 07, 2023, $*****
- Tracxn Score: 66/100 What is this?
- Competitors Rank: 7 of 903 Competitors
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.
Company Stage | No. of companies |
|---|---|
Founded | 195 |
Funded | 83 |
Series A+ | 29 |
Series B+ | 19 |
Series C+ | 12 |
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
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series B | 9817 | Dec 23, 2025 | and 1 more | |
Series A | 1536 | Dec 15, 2025 | ||
Seed | 3202 | Nov 04, 2025 | ||
Seed | 7837 | 2025 | ||
Angel | 6808 | 2025 |
Top Investors in Military Tech in India
Investor | Location | Top Portfolio Companies |
|---|---|---|
Delhi (India) | ||
Cambridge (United States) | ||
Coimbatore (India) | ||
Palo Alto (United States) | ||
Bengaluru (India) |
M&A activity 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 |
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
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 |
