Optimized Electrotech Raises USD 6 mn

New Delhi, Apr 14 (PTI) Deep-tech imaging start-up Optimized Electrotech has raised USD 6 million, about Rs 52 crore, in a funding round led by Blume Ventures and Mela Ventures, the company said on Monday.
     The round saw participation from 9Unicorns and existing investors, including Rajiv Dadlani Group and Venture Catalysts.
     "Optimized Electrotech... has successfully closed a USD 6 million Series A funding round led by Blume Ventures and Mela Ventures. Optimied Electrotech plans to use the fund to develop next-gen AI imaging payloads, high-speed space based surveillance solutions and to penetrate global markets," it said.
     "We are committed to leveraging this capital to further enhance our technological capabilities, expand our footprint, and contribute meaningfully to India's strategic and security objectives," Optimized Electrotech Founder and Managing Director Sandeep Shah said.
     He said the funding will enable the company to broaden both the scope and application of their offerings.
     "This expansion will allow us to develop advanced solutions with wider and more diverse applicability, catering to multiple geographies and operational platforms. Furthermore, we aim to extend our reach to friendly foreign partners," Shah said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)