Zen Technologies has secured its Board’s approval to acquire 51.98% stake (fully diluted basis) in Cogknit Semantics (Cogknit) for Rs 135.15 crore, a Bengaluru-based defence technology company. The company’s investment comprises a subscription to Cogknit’s primary funding round and the acquisition of existing shares. Investor Ashish Kacholia and his associates will also invest in the primary round. On completion of the transaction, which is subject to customary closing conditions, Cogknit will become a subsidiary of the company, and its founding team will continue to lead the company.
Cogknit won the iDEX challenge to build a Battlefield Management System (BMS) for Main Battle Tanks and is a recipient of the Raksha Mantri’s Award for Innovation (2022). Cogknit’s BMS digitally connects tanks, vehicles and soldiers, so that every commander works from one real-time picture of the battlefield. It has completed field trials with the Indian Army, and is designed and developed in India, adding to the country’s indigenous defence technology base and to the self-reliance of the Armed Forces.
For the company, the acquisition is aligned with Samvid, its proposed AI platform for shared battlefield awareness. Cogknit’s BMS adds the command-and-control layer that connects tanks, vehicles and soldiers, and is intended to complement Samvid, as well as Zen’s training simulators, counter-drone systems, drones and autonomous platforms.
Zen Technologies is a pioneer in the design, development and manufacture of world class, state-of-the-art training simulators.
