CORE Energy Systems Raises ?200 Crore to Strengthen India’s Nuclear and Defence Sectors

06 Aug 2025

CORE Energy Systems Ltd, a Mumbai-based engineering firm with over 25 years of experience in India’s nuclear sector, has successfully raised ?200 crore in a fresh funding round. The investment was led by prominent investors Pankaj Prasoon and Ashish Kacholia, along with a consortium of strategic backers aligned with India’s long-term national goals. This substantial capital infusion—among the largest for a nuclear-focused company in India, highlights a strong resurgence of investor confidence in the sector's growth potential.

The investment will support the expansion of CORE’s infrastructure, manufacturing capabilities, and RCD (Research, Collaboration, and Development) efforts, enhancing its ability to execute large-scale nuclear projects in line with India’s nuclear energy strategy. This funding will accelerate the development of CORE’s expertise in precision nuclear engineering and the advanced manufacturing of critical components and equipment. Notably, it will also bolster initiatives tied to India’s Small Modular Reactor (SMR) and Bharat Modular Reactor (BMR) programmes—key elements of the Atmanirbhar Bharat mission, focused on promoting nuclear self-reliance and long-term energy sustainability.

India currently operates 25 nuclear reactors generating 8.88 GW, with eight more under construction. The government has set an ambitious target of achieving 100 GW of nuclear power capacity by 2047, central to the Viksit Bharat vision and the country’s Net Zero emissions goal. As nuclear power provides stable, carbon-free baseload energy, it is increasingly seen as critical to meeting the demands of AI-driven data centres and energy security.

This funding round also signifies a key milestone for CORE, as early institutional investor IDBI Capital Markets & Securities Ltd. (ICMS) makes its exit. ICMS had supported the company through the Maharashtra Defence and Aerospace Venture Fund (MDAVF)—a SEBI-registered Category II AIF launched by the Government of Maharashtra to foster indigenous innovation in the defence and aerospace sectors.