From Dealroom · · 40s
Zen Technologies Acquires Cogknit AI Startup
Zen Technologies secures control of defence AI startup Cogknit for $14.2M.
In brief
Zen Technologies secures control of defence AI startup Cogknit for $14.2M. Zen Technologies buys 51.98% stake in Bengaluru-based AI startup Cogknit for $14.2M to expand defence portfolio. Originally reported by Dealroom.
Deal Details
Zen Technologies will acquire a 51.98% stake in Bengaluru-based Cogknit Semantics for up to US$18.4M.
Transaction Structure
Zen buys equity shares from an existing shareholder and subscribes to Series A Compulsorily Convertible Cumulative Preference Shares at US$366.9 per share.
Strategic Rationale
Cogknit builds AI-based battlefield management systems for armed forces, extending Zen's defence portfolio into battlefield management.
The one thing
Zen Technologies buys 51.98% stake in Bengaluru-based AI startup Cogknit for $14.2M to expand defence portfolio.
