People & Startups

Indian Defence Sector is the Next Big Thing. Startup Tonbo Imaging signs for a $100 Mn deal with Peruvian Army

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From services to great products resolving customer issues, Indian Startups and founders have proved their supremacy over other countries. But this time a Bengaluru based Startup Tonbo Imaging is preparing for its mega move in strengthening the Indian Armed Forces. Tonbo Imaging designs and manufactures advanced imaging and sensor systems to address critical market needs in military reconnaissance. Tonbo Imaging is founded and curated by Arvind Lakshmikumar who is an established domain expert in applied imaging technologies, computer vision, robotics and intelligent systems.

Tonbo Imaging is a spinout of Sarnoff Corporation and Stanford Research International. The team has rich experience on a range of battlefield modernization technologies, immersive surveillance and strategic electronics for military applications. The company principals and management have global experience being principal investigators for defence and aerospace programs.

A brief peek into the India’s Defence Sector Tweet This

Indian Defence sector comprises of 1.3 Mn active personnel and it is the 3rd largest military forces in the world. Indian Army has been reportedly importing its weaponry mainly from Russia, Israel and United States. Uptill the year 2011 the production of the Indian Defence Hardware was exclusively manufactured by the Government of India. India’s military budget is around 2.6% of the total GDP amounting to $40.07 billion in the financial year 2015.

Equipment’s manufacturing in defence sector is on the rise with the change in FDI norms. Recently Government of India  allowed foreign companies to own as much as 100% equity in the local defence sector through the government approval route in cases where it is likely to result in access to modern technology.  100% FDI in defence will create a win-win situation for the country’s defence forces, local industries and international OEMs.

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Pic Courtesy Bhubaneshwarbuzz.com |Now-this-is-huge-Defence-Startup-Tonbo-Imaging-signs-for-a-100-Mn-deal-with-Peruvian-Army-2

Make in India

The Modi government in its first year has agreed to 39 Capital procurement proposals worth $13 Bn to make and buy indigenous manufactured arms and ammunition . Since then several Indian companies are looking to seek inroad into the Indian Defence Sector. Some of the Indian companies venturing into this field are:

  • Tata Group
  • Mahindra Group
  • Reliance Industries
  • Reliance Anil Dhirubhai Ambani Group
  • Bharat Forge
  • Hinduja Group
  • Larsen & Toubro
  • Godrej

Tonbo imaging reportedly inked a deal with the Peruvian Army for around $100 mn. Tonbo Imaging will build ‘night-vision sights’ for the Peruvian Army’s weaponry.

“Close to 10,000 weapons will be equipped with Tonbo’s thermal imaging sight with a total order of over $100 million over the next 10 years,” Arvind Lakshmikumar, CEO of Tonbo Imaging, said about the Peru contract. As reported by ET.

The organisation is looking to scale its operations through outsourced partners for the growing demand in this sector. They are also trying to seek inroads through various deals in weaponry and related updates in the Indian Military.

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