Big Bang Boom Solutions Private Ltd (BBBS), one of fastest-growing defence sector start-up, has secured over ₹250 crore from investors as part of its latest funding round which was oversubscribed.

This funding, the start-up stated in a statement to the media, comes on the back of the Ministry of Defence signing over ₹200 crore in a deal for indigenous anti-drone technology and its successful foray into the African continent.

The BBBS, a multi iDEX winner, said the company had already turned profitable in the previous financial year and looks set to deliver on its expectations in the years ahead.

The round was heavily oversubscribed and included marquee investors who led the round including Mumbai Angels Network, Vyom Family Office, SBI Startup Branch Chennai, Asquare Investing and others which were facilitated by the team of Negen Wealth. The firm also offered existing investors a chance to exit given heavy oversubscription.

“Building a defence business requires patient capital. But expecting investors to have a 25 year horizon is a pipe dream. We therefore looked at the problem through a different lens. We decided to rotate the capital table 8 times in 25 years giving investors timely exits and an option to stay on. This can help build a company that can be a legacy brand and add real value. It is better to under price a round than leave little on the table,” BBBS CEO Praveen Dwarakanath said.

The BBBS Naval Research and Development Center (NRDC) in Chennai has undertaken development in close collaboration with the Indian Navy on various projects including Non-Lethal Naval Deterrence, AI enabled Fire Detection and Suppression, High Expansion Fire Fighting Systems, and AI enabled Maintenance Modules, the company stated.

It also said that African countries are showing interest in their military solutions.

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