Vehant Technologies Secures $9 Million Funding for Growth and Innovation
AI-based security and surveillance solution provider, Vehant Technologies, announced on Tuesday a successful funding round, raising $9 million (approximately ₹77 crore) through non-convertible debentures from True North’s Private Credit fund.
Plans for Research and Development Enhancement
Vehant Technologies has unveiled plans to allocate 75% of the funds to bolster its research and development efforts. This investment aims to enhance current offerings and pave the way for innovative solutions targeting sectors such as aviation security, smart cities, and enterprise analytics.
CEO’s Vision for Future Products
Kapil Bardeja, CEO and cofounder of Vehant Technologies, expressed enthusiasm about the funding, stating, “This fundraise from True North will help us develop and launch more cutting-edge products in the areas of aviation security, smart and safe cities, and enterprise analytics solutions. It will also assist us in expanding geographically into the Middle East and Europe.”
Expanding Global Reach
In addition to focusing on R&D, the company plans to invest the remaining 25% of the funds to strengthen its export initiatives in key markets within the Middle East and Europe.
Anticipated Revenue Growth
Vehant anticipates that these strategic investments will lead to a projected revenue increase of up to ₹350 crore by FY26. This growth sets a robust foundation for the company to accelerate further expansion beyond an impending IPO.
Preparation for Initial Public Offering
The funding received through the Non-Convertible Debenture (NCD) route is deemed crucial for Vehant’s preparations for listing with an IPO anticipated within the next 12 to 18 months, targeting 2026.
Strengthening the R&D Team
To support its ambitious growth trajectory, Vehant plans to hire over 75 additional research and development specialists. This move aims to expand its R&D team to more than 500 members.
Strategic Investment Philosophy
Kapil Singhal, managing partner at True North, pointed out that “We expect Vehant to be a big beneficiary of the government’s thrust on ‘Make in India’. Our investment will empower its R&D capabilities and augment its technology moat.”
Backing Well-Governed Businesses
Singhal further emphasized that investing in Vehant aligns with True North Credit Fund’s philosophy of supporting well-governed businesses that hold leadership positions within their sectors.
Conclusion
As Vehant Technologies gears up for future innovations in security solutions, the recent funding marks a pivotal moment, enabling the company to enhance its capabilities while strategically positioning itself in the competitive landscape of surveillance technology.
Q&A Section
1. What is the amount raised by Vehant Technologies in the funding round?
Vehant Technologies raised $9 million (approximately ₹77 crore) through a funding round via non-convertible debentures from True North’s Private Credit fund.
2. How will the funds be utilized by Vehant Technologies?
Seventy-five percent of the funds will be devoted to research and development to enhance current offerings and innovate solutions. The remaining 25% will be used for exports to key markets in the Middle East and Europe.
3. What are the company’s revenue growth expectations?
Vehant Technologies anticipates its revenue could rise to up to ₹350 crore by FY26 due to the strategic investments made from this funding.
4. When does Vehant plan to go public?
The company is preparing for an IPO expected within 12 to 18 months, targeting a release by the year 2026.
5. How many new employees does Vehant plan to hire?
Vehant Technologies plans to hire over 75 new research and development specialists, expanding its R&D team to over 500 members to support its growth plans.
