India, Sept. 2 -- Pune-based deeptech company Aeron Systems has raised Rs.45 Cr (about $4.7 Mn) in a pre-Series B funding round jointly led by Riverwalk Holdings and MGF-Kavachh (MountTech Growth Fund).

The company plans to use the fresh capital to expand its manufacturing capacity for advanced inertial navigation systems, accelerate R&D, meet growing customer demand, and strengthen its presence in international markets.

Founded in 2008 by Ashvani Shukla and Abhijeet Bokil, Aeron designs and manufactures inertial navigation and industrial IoT-based weather-monitoring systems for aerospace, defence, renewable energy, and other industrial applications.

Its navigation systems help aircraft, drones, missiles, military vehicles, and ships d...