Former ideaForge Executive’s Armory Bags Funding To Build Defence Tech Systems

Former ideaForge chief marketing officer Amardeep Singh’s defence tech startup Armory has raised INR 13 Cr (around $1.5 Mn) in an undisclosed funding round led by growX ventures.

The round also saw participation from Industrial 47, Antler, AC Ventures and Dexter Ventures.

The startup plans to use the fresh funds for research and development as well as expand its manufacturing capacity.

 “It’s increasingly obvious that the future of warfare is autonomous drones and electronic warfare. The only way to deter them is to build advanced countermeasures. Foundation of India’s self-reliant defence is being built right now, and we aim to play a leading role in it,” said Singh, founder of Armory.

Founded in 2024, Armory builds indigenous Counter-Unmanned Aircraft Systems (C-UAS). These systems help in detecting, denying, and destroying rogue drones. 

The defence tech startup claims that its flagship system SURGE was developed in six months and has already completed trials with multiple army regiments.

Armory also built Samaritan OS, an AI-based defence operating system which helps in enabling continual learning and real-time adaptability.

The development comes months after growX ventures rolled out its INR 400 Cr to support 20–24 startups across sectors like semiconductors, defence tech, spacetech, alternate materials and more. 

India’s Defence Ecosystem Bet

Recent geopolitical situations have resulted in multiple operations across the world. For instance, Operation Sindoor, has highlighted the importance of homegrown defence tech startups.

Homegrown startup IG Drones was one of the partners for the Indian government in supplying drones and offering drones-related services such as surveying, mapping and reconnaissance during Operation Sindoor.

In post-conflict briefings, the Centre said that India’s multi-layered air defence, including the indigenous Akashteer system, shot down hundreds of drones and missiles.

With the increase in dependency on indigenous defence systems, India’s defense tech sector is booming, creating opportunities for investors to cash in.

As per Inc42 data, deeptech startups raised about $2 Bn between 2014 and 2024. 

Earlier this year, Info Edge founder Sanjeev Bikhchandani highlighted the gap in venture capital interest and lack of motivation from founders to start a deeptech venture in India.

The government’s Make-in-India initiative has boosted more than 1,000 defence tech startups. Reducing the import of defence equipment and increasing the use of indigenous products on the battlefield have unlocked a flurry of orders. 

India’s defence production zoomed to a record INR 1.27 Lakh Cr in FY24, while exports hit an all-time high of INR 23,622 Cr in FY25.