Early stage investor YourNest has invested an undisclosed amount in defence IoT startup CRON Systems.
The pre-series A investment will help the city-based CRON Systems strengthen R&D activity, hire talent and explore new markets across Middle East, Africa and Europe, YourNest said in a statement.
CRON is a deep-tech company that focuses on deploying solutions for border security. Some of the solutions have also been adapted for commercial markets.
It has already bagged orders from the Border Security Force (BSF) and the Indian Army to install its products to secure the international borders as well as perimeter of sensitive installations like army camps, airports etc.
Started in 2015 by Tushar Chhabra, Saurav Agarwala and Tommy Katzenellenbogen, CRON Systems develops IoT and laser-guided intrusion detection systems that can distinguish and report both human and mechanical intrusions. It combines deep research in lasers, data, Artificial Intelligence, encrypted communications and automation.
CRON has recently partnered with an Israeli company to develop automated patrolling rovers and trucks that can help save costly human lives on the borders.
With YourNest on board and their guidance, we expect to grow at a rapid pace across both defence and commercial markets in India and abroad,Tushar Chhabra, CEO, CRON Systems said.
This is the first investment by YourNest from its Fund-II that was launched last year with a corpus of Rs 300 crore.
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