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Chennai based defense tech startup Big Bang Boom Solutions (BBBS) has raised $1 million through Mumbai Angels Network in their overall $1.5 million in Series A round funding.
Founded in 2018 by Praveen Dwarkanath and Dr. Shivaraman Ramaswamy, Big Bang Boom Solutions (BBBS) is a new-age defense tech startup that has developed integrated intellectual properties for defense. The startup has managed to win two prestigious iDEX grants in 2 product categories with SPARK grant of Rs 3 crore from the Department of Innovation. BBBS is on track to deliver high technology systems to the Indian Armed Forces.
Earlier, it received Rs 5 crore from an individual investor.
Speaking on the fundraise, Praveen Dwarkanath, Co-founder & CEO of BBBS said, “We are excited to take the next steps in our growth at BBBS. We are thrilled to partner with MA Network who have not only supported us in raising funds but also connected us to their vast network of investors for business synergies. We will now have an addition of highly intellectual and well-placed people across the country. We view this as a competitive advantage.”
Commenting on the funding in BBBS, Mahesh Agarwal, Mumbai Angel Investor said, “BBBS has a lot of potentials to grow with FDI Investment policy and now Indian Government tenders up to 200Cr to Indian companies only policy will boost innovations. BBBS has proven records of winning iDEX challenges.”
“We are seeing a dynamic shift in how the government is looking at defense as a sector for startups to innovate, research, and build technologies from ground-up and put India on the global footprint. We are happy to welcome BBBS in our expanding diversified portfolio and participating in this industry-defining near future and is the backbone of our economy,” Nandini Mansinghka, Co-promoter and CEO of Mumbai Angels Network added.