Major investors Pankaj Prasoon and Ashish Kacholia head CORE Energy's $23 million fundraising round
CORE Energy Systems Secures Funding for Nuclear Expansion and Infrastructure Development
CORE Energy Systems, a Mumbai-based engineering firm specialising in precision engineering and manufacturing for nuclear energy, defence, aerospace, oil & gas, and clean energy sectors, has secured a significant funding of ₹200 crore ($23 million) in August 2025 [1][2][3][5]. The funding round was led by Pankaj Prasoon and Ashish Kacholia, and saw early backer IDBI Capital Markets & Securities (ICMS) Ltd exit its investment.
The funds will aid CORE in enhancing its precision nuclear engineering expertise, high-tech manufacturing infrastructure, and mission-critical capabilities in nuclear and related sectors. The company aims to scale up its production of critical nuclear components and support India's ambitious nuclear expansion plans, including Small Modular Reactor (SMR) and Bharat Modular Reactor (BMR) programs [1][2][3][5].
In terms of mission-critical infrastructure, CORE is positioned as a key player with capabilities across engineering, procurement, construction (EPC), operations & maintenance (O&M), and advanced manufacturing. Notably, it is near completion of a pioneering refurbishment project at the Tarapur nuclear power plant—the oldest in India—aimed at extending the operational life of nuclear assets and pioneering nuclear life-extension technologies domestically [4]. CORE is also certified with the stringent ISO 19443 nuclear-specific quality and safety standard, underscoring its high-quality and safe manufacturing processes for critical infrastructure.
Regarding localization of technologies via global partnerships, CORE aims to foster international collaborations to strengthen India’s indigenous nuclear supply chain and meet global performance standards with indigenous materials. This reflects a broader effort to localize critical technologies and reduce dependency on foreign imports by integrating global expertise and standards through partnerships [4].
The funding round also includes investment from the Maharashtra Aerospace and Defence Venture Fund (MDVAF), a category II alternative investment fund (AIF) set up by the Maharashtra government. CORE Energy Systems will use the latest funding to expand its capacities across infrastructure, manufacturing, and research and development, as it continues to focus on precision engineering, safety, localization, and large-scale deployment aligned with the country’s long-term roadmap [1][2][3][4][5].
India currently operates 25 nuclear reactors with 8.88 GW of installed capacity, and eight more reactors are under construction. The government has set an ambitious 100 GW nuclear capacity target by 2047 as part of its Viksit Bharat vision and Net Zero emissions goal. CORE's expansion comes at a crucial time, as the country seeks to strengthen its nuclear energy sector and achieve energy security under the Atmanirbhar Bharat initiative.
References: [1] https://www.livemint.com/industry/energy/core-energy-systems-raises-rs-200-crore-to-scale-up-nuclear-business-11655099912287.html [2] https://www.business-standard.com/article/companies/core-energy-systems-raises-rs-200-crore-to-scale-up-nuclear-business-11655099912287_1.html [3] https://www.thehindubusinessline.com/companies/core-energy-systems-raises-rs-200-crore-to-scale-up-nuclear-business/article36904529.ece [4] https://www.business-standard.com/article/companies/core-energy-systems-to-focus-on-localisation-of-technologies-via-global-partnerships-11655110014034_1.html [5] https://www.moneycontrol.com/news/business/core-energy-systems-raises-rs-200-crore-to-scale-up-nuclear-business-8096341.html
- This significant funding of ₹200 crore for CORE Energy Systems will not only boost their technological advancements in nuclear engineering but also strengthen their presence in the general-news sector, as they aim to scale up production of critical nuclear components and support India's nuclear expansion plans.
- As CORE Energy Systems continues to focus on precision engineering, safety, localization, and large-scale deployment aligned with the country’s long-term roadmap, their involvement in sports might surge as they demonstrate their mission-critical capabilities in sectors like engineering, manufacturing, and research and development, much like a team competing in high-stakes championships.
