HBL Power Systems to invest Rs 1.5 bn in defence imaging company Tonbo

Tonbo Imaging India, a specialist in imaging systems, would get an investment from HBL Power Systems up to Rs 1.5 billion in the form of compulsorily convertible preferred shares. Subject to a few requirements being met, HBL will also make a small investment in Tonbo Singapore over the course of three tranches. Tonbo Imaging India is a domestic manufacturer and designer of imaging systems for targeting, surveillance, and research. The business claimed that it provides cutting-edge electro-optics equipment to more than 25 nations, including the home and defence ministries of India. Tonbo possesses the intellectual property strategy and development capabilities that HBL has been looking for in the field of defence electronics. The eyes and brain of surveillance platforms and weapon systems are electro-optics and imaging subsystems. According to Tonbo, it has pioneered the acquisition of images using machine learning and computational imaging. The business will use the investment from HBL to keep extending its global footprint in the defence markets. Also, it would hasten the development of new products for extensive end platforms. HBL adds to the partnership its full production infrastructure for electronics, mechanical systems, assembly, and testing, in addition to the equity commitment. This will make it easier for Tonbo to meet the significant expansion in our order book with product deliveries. Also read: Chakan MIDC's infrastructure being upgraded by the power utility Nepal, India agrees to allow export of power longterm basis