Tonbo Imaging, a Bengaluru-based firm, has won a large deal with Bharat Dynamics (BDL) to indigenise new missile seekers for the multi-million dollar anti-tank guided missile programme that BDL is building for the Indian Army.
For Tonbo Imaging, it is an opportunity to tap over USD 500 million in the next few years.
The company signed up with BDL to supply the EO-IR (electro-optical-infrared) seeker and command launcher unit (CLU) that controls and launches the missile and engages with the target before launch.
The company’s sales pipeline is over USD 2.5 billion with a near-term execution visibility of USD 300 million. The company has raised a total funding of over USD 30 million from venture capital investors, including Edelweiss and Walden Riverwood Ventures.
It is in discussions with a few global investors for more funding for its expansion plans.