Industrials
Tonbo Imaging raised Private Equity from Walden Riverwood Ventures, Qualcomm Asia Pacific, Edelweiss and Artiman Ventures
About
Tonbo Imaging
Tonbo Imaging has been a pioneer in computational imaging and machine learning driven image acquisition. Tonbo’s technology combines fundamental innovations in the image acquisition process along with powerful computer vision algorithms to support superior imaging and scene interpretation for a wide range of applications. Tonbo leverages the computing power of consumer electronics hardware and economies of scale of contract manufacturing to build systems that outperform existing technology in size, weight, power and cost.
Background
We are pleased to announce that our client Tonbo Imaging Pte. Ltd. (“Tonbo Imaging”), a premier designer and manufacturer of advanced night vision imaging systems for defense, surveillance and transportation safety markets, has raised Series B growth capital of $17Mn from Walden Riverwood Ventures, Qualcomm Asia Pacific, Edelweiss and existing investor Artiman Ventures.
This Series B round is the largest private venture investment in the Indian defense industry, and one of Silicon Valley’s largest investments in defense technologies. Tonbo Imaging will use the funds to democratize night vision imaging technology by ensuring rapid adoption of its technology in defense, vehicle safety and other autonomous applications across the globe.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to Tonbo Imaging, its promoters & existing investors in the transaction. VedaCorp provided comprehensive transaction advisory services, including positioning, valuation, negotiation of definitive agreements, and transaction structuring leading to the successful closure of the transaction.
“Under the leadership of Arvind, Tonbo has risen to become a leading global imaging technology company and the leader in defence-related applications. Tonbo’s pioneering technology gives it a platform for rapid scale-up as it expands its product portfolio across defence, automotive and industrial businesses in the next few years”
Srikanth Narasimhan
Founder and Director at Veda Corporate Advisors
“Raising capital in an industry like defense is a very challenging task. This, coupled with the cross-border nature of our business made the process quite involved. We met many bankers during our initial days. What stood out about VedaCorp was their operational involvement in creating the investment assessment material and a very active engagement with our potential investor pool. They have a very hands-on approach to creating the investment thesis story and this was very crucial in helping the investors understand the significance of what we are trying to do. A truly wonderful bunch of people to work with and I look forward to a continued partnership with them as we scale up.”
Arvind Lakshmikumar
Promoter and Managing Director of Tonbo Imaging