Kochhar & Co. acted as legal counsel to Tonbo Imaging India Limited (Tonbo) in raising INR 175 Cr in a Series D pre-IPO funding round led by Florintree Advisors, Tenacity Ventures, and Export Import Bank of India. Tonbo is at the forefront of advanced defence systems, specializing in infrared imaging, artificial intelligence and cutting-edge battlefield intelligence and protection systems.

The transaction is a key marquee transaction and marks a milestone in the indigenous defence sector. The Firm provided end-to-end support and assistance in the transaction which entailed preparing, negotiating, and finalizing the definitive transaction documents (such as the Subscription and Restated Shareholders Agreement), undertaking a comprehensive due diligence on the company, and assistance with all pre-closing, closing and post-closing actions.

The transaction was led by the Kochhar & Co. Bangalore, Corporate and M&A team comprising of Partner Anuj Kaila, Senior Associate Mansi Patel, and Associate Aniket Chowdhury. Various other members of the Kochhar Bangalore office also assisted with the due diligence.