Stories
Zen Technologies to Acquire Majority Stake in Cogknit Semantics for Rs 135.15 Crore
- •Zen Technologies board approved an investment of Rs 135.15 crore for a 51.98 percent stake in Bengaluru-based defence tech firm Cogknit Semantics.
- •Investor Ashish Kacholia and his associates will also participate in the primary funding round.
- •Cogknit is known for winning the iDEX challenge to build a battlefield management system for main battle tanks and received the Raksha Mantri Award for Innovation in 2022.
- •The acquisition aligns with Zen Tech's proposed AI platform Samvid and will complement its training simulators and counter-drone systems.
- •Once the transaction is completed, Cogknit will become a subsidiary of Zen Tech while its founding team continues to lead it.
Key Questions Answered
Zen Technologies' board of directors approved an investment of ₹135.15 crore to acquire a 51.98% majority stake in the Bengaluru-based defence technology company Cogknit Semantics Pvt Ltd.
Cogknit won the iDEX challenge to build a battlefield management system (BMS) for main battle tanks and received the Raksha Mantri's Award for Innovation in 2022. The BMS digitally connects tanks, vehicles, and soldiers to provide a real-time picture of the battlefield and has completed field trials with the Indian Army.
Cogknit will become a subsidiary of Zen Tech, with its founding team continuing to lead it. The acquisition aligns with Zen Tech's Samvid AI platform for shared battlefield awareness, complementing its training simulators, counter-drone systems, drones, and autonomous platforms.
