India defence funding: 360 ONE Asset raises ₹1,500 crore
India’s defence push is drawing new capital and new founders into the country’s defence and aerospace sectors. 360 ONE Asset recently raised a ₹1,500-crore fund to back defence and aerospace businesses in India, as government initiatives seek greater private-sector participation and lower import dependence.
The government has supported the sector through initiatives including iDEX, ADITI and Make in India, while earmarking 25% of the defence research and development budget for the private sector.
What India defence funding is backing
360 ONE Asset is an investment firm with a defence and space fund. Its focus spans early-stage companies through pre-IPO rounds, with interest in defence electronics, components, earth observation, dual-use applications, electronic warfare, missile defence systems, counter-drone systems, artificial intelligence for defence, mission intelligence and command systems.
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The firm is also looking at companies building microgas turbines and jet engines. Of the four investments made from its defence and aerospace-focused fund, Digantara and Sisir Radar cater to the earth observation segment, according to the source.
The push has also seen founders emerge from government departments and research divisions. Sisir Radar was founded by a former Indian Space Research Organisation official, while the founders of Skyroot Aerospace previously worked at Isro. ShareChat founders Farid Ahsan and Bhanu Pratap Singh have also entered deeptech through robotics company General Autonomy.
“The government has done a good job of publishing long-term technology roadmaps [and] specific projects that require innovation and IP (intellectual property) through things like the iDEX challenges,” said Abhishek Nag, head of venture capital and co-head of 360 ONE Asset’s defence and space fund.
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