HBL Power Systems To Invest Up To Rs 150 Cr In Defence Imaging Firm Tonbo

HBL Power Systems will invest up to Rs 150 crore in Tonbo Imaging India, an imaging systems specialist, in the form of compulsorily convertible preference shares.

HBL will also make a nominal investment in Tonbo Singapore, spread over three tranches and subject to the fulfillment of certain conditions. Tonbo Imaging India indigenously designs and manufactures imaging systems for surveillance, reconnaissance and targeting. The company said it is a supplier of advanced electro-optics systems in more than 25 countries, including India’s defence and home ministries.

“HBL sees in Tonbo the intellectual property strategy and development capabilities that we have been searching for in the area of defence electronics,” said A J Prasad, founder and chairman of HBL.

Electro-optics and imaging subsystems are the eyes and the brain of surveillance platforms and weapon systems.

Tonbo said it is a pioneer in computational imaging and machine learning-driven image acquisition.

Arvind Lakshmikumar, founder and chief executive officer of Tonbo, said the company will use HBL’s investment to continue expanding its global reach in defence markets. It would also accelerate product innovation in large-scale end platforms.

“In addition to the equity investment, HBL brings to the partnership its comprehensive manufacturing infrastructure for electronics, mechanical systems, assembly and testing,” said Lakshmikumar. “This will help Tonbo to deliver products to match the rapid growth in our order book”.

Tonbo said its products are used in land, air, and missile systems and its customers are militaries, special forces and defence manufacturers.

Tonbo Imaging Trap1 Seeker