Rise of First Indian Defence Dragon: Big Bang Boom Solutions Raises Rs 250 Crore with a 15x Return to Early Investors
Chennai (Tamil Nadu) [India], September 24: Big Bang Boom Solutions Pvt. Ltd. (BBBS), India’s fastest-growing defense sector start-up, has secured over INR 250 Crores from investors as part of its latest round, positioning it well to ascend into the upper echelons of the industry. This funding success follows the Defence Ministry signing over Rs 200 Crores in a deal for Indigenous Anti-Drone Technology and the company’s successful entry into the African market. Having already turned profitable in the previous financial year, BBBS is set to meet expectations in the forthcoming years.
The investment round was heavily oversubscribed, attracting marquee investors such as the Mumbai Angels Network, the Vyom Family Office, the SBI Startup Branch Chennai, Asquare Investing, and others, facilitated by Negen Wealth. The firm, given the heavy oversubscription, also offered existing investors a chance to exit.
“Building a defense 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 cap 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 underprice a round than leave little on the table,” said Praveen Dwarakanath, CEO of BBBS.
The multi iDEX winner, BBBS, was part of the recently concluded Indian Ministry of Defence delegation to various countries in Africa, including Kenya, Algeria, Tanzania, and Mozambique. The impressive showcase of its products led to significant interest regarding the export of its solutions, which it will be fulfilling in the next few months. Having made an impact in the African market, BBBS plans to enter the European market in the coming quarter.
“When we set out to build a product, we benchmark ourselves globally, allowing us to compete both in India and across the world and ensure longer product lifecycles. While R&D is in our DNA, and we will do what it takes to transform the landscape of Indian Defence, we are clear that the timeline to monetization must go hand in hand with adequate creation of core intellectual property. Credit is also due to the government, DDP’s flagship iDex initiative, and the Indian Armed Forces, who have envisioned the policies that have enabled this transformative growth,” said Dr. R. Shivaraman, CTO of BBBS.
In Indian operations, BBBS’ Naval Research and Development Center (NRDC) in Chennai is playing a pivotal role in product development, working closely 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. BBBS has also signed a strategic manufacturing partnership with the renowned JCBL Group to expand jointly into precision manufacturing.
BBBS’s core domains include Artificial Intelligence, Electronic Warfare, and Nanotechnology. The diverse expertise of its talent pool helps them stay ahead of the competition.
While the talk in town is generally about startups raising funds to become Unicorns, this marks the rise of a different breed: the Indian Dragon – a startup that is profitable and has returned capital to its shareholders.
Big Bang Boom Solutions is India’s fastest-growing startup in the defense sector. Founded by Dr. Shiva and Praveen Dwarakanath, serial entrepreneurs in Deep Tech, it aims to co-create intellectual property for the Indian Armed Forces to counter asymmetric emerging threats. The founders’ robust network in the research space facilitates faster, more cost-effective technology development than anyone else.
In addition to its anti-drone system, the company has won multiple iDex challenges announced by the Ministry of Defence and has successfully completed projects in diverse fields, including electronic warfare, artificial intelligence, and nanotechnology.
The company has also established sales channels to friendly foreign nations with the help of the Export Promotion Cell, DDP, MOD.
