Defence Startup BBBS Bags Rs 1.5 Crore Grant under iDEX
The company would work with the defence ministry and is also open to engaging with defence agencies in other “India-friendly nations”.
Defence-tech start-up Big Bang Boom Solutions (BBBS) has bagged a Rs 1.5 crore grant for winning the ‘See Through Armor’ challenge by the Ministry of Defence under iDEX.
The win entitles the start-up to a chance to co-develop the solution along with the Indian Army, and a grant of Rs 1.5 crore, BBBS Chief Executive Officer Praveen Dwarakanath told PTI.
Innovations for Defence Excellence (iDEX) was launched by the central government in April last year to create an ecosystem to foster innovation and technology development in areas of defence and aerospace.
The programme aims to engage with micro, small and medium enterprises (MSMEs), start-ups, individual innovators, research and development (R&D) institutes and academia, and provide them grant and other support to carry out R&D for solutions that have potential for future adoption.
Detailing out its entry at iDEX, Dwarakanath said the chosen solution can offer situational awareness to a soldier sitting in an armoured tank. Dwarakanath said the solution leverages augmented reality and virtual reality technologies that have been co-developed with its partners. The company works with researchers for developing these solutions, and the IP of the solution resides with the company.
He informed that the company would work with the defence ministry and is also open to engaging with defence agencies in other “India-friendly nations”.
BBBS has also secured an undisclosed amount of funding in the form of convertible notes from strategic investors. The company will invest part of the proceeds into a hedge fund to generate higher returns, he said. It will also be used for strengthening operations of the company and business development, he added.