Defence tech startup Tonbo Imaging raises USD 17 M
Tonbo Imaging
Founder: Arvind Lakshmikumar
Founded in: 2012
Financing status: USD 17 million for undisclosed round in 2017
Bangalore-based defence startup Tonbo Imaging has raised USD 17 million for Series B funding round led by WRV Capital. Qualcomm Ventures and Edelweiss Private Equity also participated in the round.
According to the investment, Ganapathy Subramaniam of WRV Capital and Pranav Parikh of Edelweiss Private Equity have joined the startup’s board of directors.
Tonbo Imaging was founded in 2012 by Arvind Lakshmikumar, an alumnus of Carnegie Mellon University who did doctoral work in Robotics. Previously, he served as the CEO of Serial Innovations, an imaging startup which builds and deploys technology for defense and homeland security applications. Prior to that he also worked as a research scientist for Honeywell and Intelligent Automation.
Tonbo Imaging designs, builds, and deploys advanced imaging and sensor systems in order to sense, understand, and control complex environments. It offers a suite of solutions that address critical market needs in military reconnaissance, critical infrastructure security, and transportation safety. The startup’s offerings consist of sophisticated imaging products, custom design applications, and intellectual property cores that can be licensed by original equipment manufacturers and systems integrators.
The newly raised funds will be allocated towards scaling up operations in the international market and towards investment in R&D and commercial product development.
Smart parking platform Get My Parking raises USD 3 M for Series A
Get My Parking
Founders: Chirag Jain, Rasik Pansare and Rahul Gupta
Founded in: 2015
Financing status: USD 3 million for Series A round in 2017
New Delhi-based smart parking provider Get My Parking has raised USD 3 million for Series A funding round from IAN Fund, in addition to existing investors BEENEXT and Indian Angel Network.
Get My Parking was founded in 2015 by Chirag Jain, an Indian Institutes of Technology (IIT) Madras alumnus; Rasik Pansare, a Faculty of Management Studies (FMS) Delhi alumnus; and Rahul Gupta, another IIIT Allahabad alumnus.
Get My Parking is an app-based parking solutions provider that aggregates parking information in real time. The startup aims to organize the parking industry through its mobile solutions and empower motorists with information on parking locations, parking cost, and timing. The app covers all types of parking lots including street-side, open-ground, basement, or multi-level availability within categories like municipal, residential, etc. Drivers can search, book, and navigate to parking places near them or around their destinations, and pay through the app using its online payment function or mobile wallet. Currently the startup’s services cover the cities of Delhi, Noida, Gurgaon, and other adjoining areas.
The newly raised funds will be used to upgrade the startup’s internet of things platform.
Other players in this area in India include Bangalore-based PParkE.
(Top photo from Pixabay)
