Mumbai-based CORE Energy Systems has raised Rs 200 crore in fresh funding to enhance India’s nuclear and defence manufacturing capabilities.

The funding round, led by investors Pankaj Prasoon and Ashish Kacholia along with other strategic backers aligned with national priorities, will fuel expansion of CORE’s infrastructure, manufacturing, and research capabilities. A key focus is accelerating the company’s involvement in the Small Modular Reactor (SMR) and Bharat Modular Reactor (BMR) programs—vital parts of the Atmanirbhar Bharat initiative for nuclear self-reliance.

Founded 25 years ago, CORE has been playing a pivotal role in India's nuclear aims, especially as the country targets a rise in nuclear power capacity to 100 GW by 2047 from the current 8.88 GW. Nuclear power is seen as critical for powering AI-driven data centers and supporting Net Zero goals. The firm is refurbishing India’s oldest nuclear plant at Tarapur (1969), and holds ISO 19443 certification, a top-tier nuclear quality standard.

This funding round also marked the exit of early backer IDBI Capital Markets & Securities. CORE aims to scale defence subsystem production and localize advanced technologies through global partnerships.