Delhi-based border security startup, CRON Systems have raised undisclosed amount in Pre-Series A funding round from venture capitals firm YourNest. This will be first investment for YourNest from their new funds.
CRON Systems was founded in 2015 by Tushar Chabber (Co-Founder & CEO) and Tommy Katzenellenbogen (Co-Founder & CFO). The company is a border defense startup which provides internet-of-things (IoT) based intrusion detection systems, perimeter protection solutions, firewalls, surveillance drones, laser walls, command to command control dashboard and encrypted networks for defense. The company says Border Security Forces and Indian Army are their primary clients and they feel proud to work for them.
In six months of their launch, CRON systems have introduced and developed four new products which consists of automated trucks for patrolling along borders, laser wall KV Series, data integration system Micron and Skywatch prototype that blocks surveillance drones.
The company will use their fund capitals for research & development, and for hiring new talent. They are also looking to expand their products in global market such as Middle East, Africa and Europe.
Tushar, CEO of CRON systems says “We are calculating how many orders we can fulfill this year. We are going into manufacturing scalability right now and the current order from Indian army is worth over Rs 700 crore.”
YourNest Angel Fund is a SEBI-registered early stage venture capital fund. They invest in businesses built on vibrant and new ideas which enables by path-breaking use of technology. They also have the operational experience of building successful teams and businesses. YourNest raised funds of total $57.71 Million. They invested in startups like Bookmycab, GolfLAN, Mycity4kids, SmartQ and many others. Read more about Funded Indian Startups.