India-based night vision-imaging system developer Tonbo Imaging received $17m in series B funding yesterday from investors including Qualcomm Ventures, the corporate venturing subsidiary of mobile semiconductor technology producer Qualcomm.
Venture capital fund Walden Riverwood Ventures (WRV) led the round, which also featured Edelweiss Financial Services subsidiary Edelweiss Private Equity and Artiman Ventures, the VC fund that led Tonbo’s $6.4m series A round, which closed in 2013.
Tonbo designs and produces imaging and sensor systems that help users see at night, as well as in environments where vision is disrupted by elements such as sand and fog. The equipment, which includes targeting systems and surveillance technology, is mostly used for military purposes.
Varsha Tagare, managing director of Qualcomm Ventures India, said: “Tonbo’s team is responsible for some of the most sophisticated camera technology in the world, qualified for both military and commercial use.
“We are thrilled to work with the Tonbo team to bring sophisticated camera technology from India to serve the rest of the world and we look forward to being an ally as the company continues to grow and scale.”
The company’s earlier investors included Mumbai Angels, which provided $500,000 of funding in 2011. Veda Corporate Advisors advised Tonbo on the round, and Ganapathy Subramaniam from WRV and Pranav Parikh of Edelweiss have joined Tonbo’s board of directors.
– Image courtesy of Tonbo Imaging.