Today: Jul 20, 2024

Funds needed to boost defence startups and make them soar.

7 months ago

The defence startup sector in India requires more funding support in order to thrive and grow. Captain Nikunj Parashar, the Founder and CEO of Sagar Defence Engineering Private Limited, discussed the challenges faced by defence startups and the need for additional funds in a recent podcast.

Captain Parashar emphasized the importance of the Make in India initiative and highlighted the achievements of his company, Sagar Defence, in developing cutting-edge naval solutions, including the country’s first unmanned surface vehicle.

The podcast also explored Sagar Defence’s expansion into different domains, such as aviation and maritime, and discussed their entry into the commercial sector, particularly in Europe. Captain Parashar addressed concerns about funding for startups in the defence sector and stressed the need for additional funds, possibly through alternative investment avenues.

The conversation concluded with insights into the broader defence startup ecosystem and the importance of collaboration between larger defence companies and startups for the growth of the sector. Captain Parashar also expressed his expectations for increased funding and support in the upcoming budget, emphasizing the need for a robust semiconductor industry for India to become a self-reliant arms exporter.