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Vehant Technologies, a provider of AI-driven security and surveillance solutions, has raised $9 million (approximately ₹75 crore) through non-convertible debentures (NCDs) from True North.
“The company plans to allocate 75% of the funding towards research and development to enhance its existing products and explore new solutions in aviation security, smart cities, and enterprise analytics. The remaining 25% will be used to expand exports to markets in the Middle East and Europe,” according to a statement from the company.
This strategic funding aims to position Vehant Technologies for significant growth, with projected revenues of ₹350 crore by FY26. The company also plans to expand its workforce by hiring over 75 R&D specialists, increasing its team size to more than 500.
Vehant is also preparing for an initial public offering (IPO) within the next 12 to 18 months. The funds raised through the NCD route are expected to support its long-term growth strategies and reinforce its focus on addressing the growing global demand for advanced security and surveillance systems.
Speaking on the development, Kapil Bardeja, CEO and Co-founder of Vehant Technologies said, “This fundraise from True North will help us develop and launch more cutting-edge products in Aviation security, Smart and safe cities, and Enterprise analytics solutions. It will also help us expand geographically in the Middle East and Europe. The support received from True North validates our vision and growth strategy. Additionally, we would like to extend a special thanks to Safire Capital for acting as our exclusive financial advisor”
Commenting on the investment in surveillance provider, Kapil Singhal, Managing Partner – Private Credit at True North said, “We are happy to partner with Vehant at such a critical juncture of its growth journey. Run by high-quality founders, Vehant has demonstrated its leadership in technology among Indian peers in the security screening & surveillance space.”
“We expect Vehant to be a big beneficiary of the government’s thrust on “Make in India“ and our investment will strengthen its R&D capabilities and technology moat. Investment in Vehant aligns with True North Credit Fund’s investment philosophy of backing well-governed businesses with leadership positions in their sub-sectors,” Singhal added.