Dynalog India Ltd., provider of defense and industrial automation solutions, announced it has raised US$2.4 million from the Maharashtra Defense & Aerospace Venture Fund backed by IDBI Capital.
The Fund is a financial and strategic investor in companies focused on providing innovative technology products and solutions to the defense sector in India and globally.
Akshay Adhalrao, MD, Dynalog India said, “This investment by MDAVF is a strong endorsement of our track record, capabilities and vision to grow the business exponentially.”
“Having IDBI Capital as a financial and strategic partnership allows us to invest in new technology and new product development and accelerate execution of existing orders,” he added.
