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True North's pvt credit fund bets on Vehant Tech
Mint Bangalore
|January 08, 2025
Security and surveillance solution provider Vehant Technologies said Tuesday it has raised $9 million (₹77 crore) in a mezzanine round from the private credit fund of homegrown alternative investment firm True North.
True North's private credit fund, which raised ₹1,300 crore to hit final close last year, will invest in Vehant through non-convertible debentures.
The company plans to use 75% of the funds to increase its R&D activities to improve its current offerings and develop solutions for aviation security, smart cities, and enterprise analytics.
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