Thursday, 2 July 2020

BBBS raises $ 1 Mn USD through Mumbai Angels Network

BBBS, a Defence tech start-up,raises $1 Million USD through
Mumbai Angels Network
Big Bang Boom Solutions, a Defence tech company has raised $1 Million USD through Mumbai Angels Network in their overall $1.5 Million USD Series A round-size.  Big Bang Boom Solutions was founded in 2018, headquartered in Chennai by Praveen Dwarkanath and Dr. Shivaraman Ramaswamy.

Big Bang Boom Solutions (BBBS) is a new-age defence tech startup which is developing integrated intellectual properties for defence. The company managed to win two prestigious iDEX grants in 2 product categories with SPARK grants of INR 3 Cr from the Department of Innovation; and is on track to deliver high technology systems to the Indian Armed Forces. They also have other technologies which they have developed in-house. They also have excellent collaborations with high technology players and individuals across the country. The company has received earlier investment from an Individual investor to the tune of INR 5 Cr.
Praveen Dwarkanath Co-Founder & CEO of BBBS said, "We are excited to take next steps in our growth at BBBS. We are thrilled to partner with MA Network who have not only supported us in raising funds but also connected us to their vast network of investors for business synergies. We will now have an addition of highly intellectual and well placed people across the country. We view this as a competitive advantage."  
Mahesh Agarwal, MA Investor commented "BBBS has a lot of potential to grow with FDI Investment policy and now Indian Government tenders up to 200Cr to Indian companies only policy will boost innovations. BBBS has proven records of winning iDEX challenges."
Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, commented, “We are seeing a dynamic shift in how the government is looking at defence as a sector for startups to innovate, research and build technologies from ground-up and put India on the global footprint. We are happy to welcome BBBS in our expanding diversified portfolio and participating in this industry-defining the near future and is the backbone of our economy
About Mumbai Angels Network: 
Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing. The network is today 450+ members strong, across 9 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa, Pune, Jaipur and Chennai). It has a 140+ strong portfolio with 45+ exits and has invested 150+ crores.

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