Hyderabad's Brihaspathi Technologies raises $10 million from FIIs, plans IPO by FY27
HYDERABAD: AI surveillance and security solutions provider, Brihaspathi Technologies Limited, raised US$10 million (approx ₹86 crore) from foreign institutional investors (FIIs) and some individual investors, even as it is mulling an
initial public offering
in the 2026-27 financial year.
While the FIIs that participated in the fundraise include Kingsman Wealth Fund PCC - Aurisse Special Opportunities Fund and Citrus Global Arbitrage Fund, the individual investors include former badminton champ Saina Nehwal.
The city-based company will utilise the capital infusion to fund its expansion plans, which include setting up a new 72,000 sq ft CCTV manufacturing facility in Hyderabad.
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This facility will have the capacity to manufacture 2.5 lakh devices per month, Brihaspathi Technologies managing director Rajasekhar Papolu said on Thursday.
Apart from CCTV systems, the facility, which is coming up at Tuniki Bollaram, will produce laptops under Brihaspathi brand and is expected to be operational by the end of the current financial year. Currently, the company has the capacity to manufacture around 8 lakh devices per annum. The company also plans to hire about 400 more employees.
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