SUMMARY
- Big Bang Boom raised Rs 250 crore in funding, led by prominent investors and Negen Wealth.
- CEO P Dwarkanath emphasizes the need for timely investor exits in defense capital management.
- The firm focuses on advanced military tech, including AI and autonomous systems, aiming for modernization.
Big Bang Boom Solutions, a defense sector startup, raised Rs 250 crore in its latest funding round. In a statement, it revealed, that the funding was led by notable investors such as Mumbai Angels Network, Vyom Family Office, SBI Startup Branch Chennai, Asquare Investing, and others and that the team at Negen Wealth facilitated the deal. The business further stated, “Given heavy oversubscription, the firm also offered existing investors a chance to exit”.
Praveen Dwarkanath, CEO of Big Bang Boom Solutions, said, “Building a defense business requires patient capital. But expecting investors to have a 25-year horizon is a pipe dream. We therefore looked at the problem through a different lens. We decided to rotate the capital table 8 times in 25 years giving investors timely exits and an option to stay on”.
CTO of Big Bang Boom Solutions, Shivaraman Ramaswamy stated, “While R&D is in our DNA, and we will do what it takes to transform the landscape of Indian Defense, we are clear that the timeline to monetization must go hand-in-hand with adequate creation of core intellectual property. Credit is also due to the government, DDP’s flagship iDex initiative, and the Indian Armed Forces, who have envisioned the policies that have enabled this transformative growth.”
Big Bang Boom Solutions, founded in 2018 by Praveen Dwarkanath and Shivaraman Ramaswamy, is an Indian defense technology startup. The company focuses on developing advanced military technologies, including autonomous systems and AI-driven solutions, aiming to modernize India’s defense capabilities by collaborating with defense agencies to address critical security needs.
The business has ventured onto the African continent as part of the Indian Ministry of Defense delegation that visited Kenya, Algeria, Tanzania, and Mozambique lately. The company’s core disciplines include Artificial Intelligence (AI), Electronic Warfare, and Nanotechnology. The firm is making waves in the defense technology sector. The company boasts an authorized share capital of Rs 1,050,000 and a paid-up capital of Rs 154,360, with its latest balance sheet filed on March 31, 2023.
