Big Bang Boom Secures $29.9 Million in Latest Defence Sector Funding

Big Bang Boom, an Indian startup in the defence sector, has successfully raised Rs 250 crore in its latest funding round, backed by prominent investors such as Mumbai Angels Network, Vyom Family Office, SBI Startup Branch Chennai, and Asquare Investing. The funding process was managed by Negen Wealth. In response to the oversubscription, the company offered its current investors an opportunity to exit.

Praveen Dwarakanath, CEO of Big Bang Boom Solutions (BBBS), highlighted the importance of providing timely exits for investors in the defence sector. "Building a defence business requires patient capital, but a 25-year commitment is unrealistic. Our approach rotates the capital table eight times in 25 years, allowing investors exits while giving them the option to remain involved," he explained.

BBBS, which specializes in Artificial Intelligence (AI), Electronic Warfare, and Nanotechnology, has also expanded its operations into Africa. This expansion follows the Indian Ministry of Defence's recent delegation visit to Kenya, Algeria, Tanzania, and Mozambique. Chief Technology Officer Dr. R Shivaraman stressed the balance between research and monetization, stating, "While R&D is our focus, we aim to transform India's defence landscape and ensure monetization aligns with the creation of intellectual property."

Source: Abha Warrier / YourStory