Defence technology company Zen Technologies Ltd has approved the acquisition of a 51.98% stake in Cogknit Semantics Pvt. Ltd for up to Rs 135.15 crore ($14.2 million) in cash, expanding its portfolio into artificial intelligence-powered battlefield management and situational-awareness systems.
Mumbai-listed Zen said in a stock exchange filing the transaction would involve buying equity shares from an existing shareholder and subscribing to Series A compulsorily convertible cumulative preference shares (CCCPS) of Cogknit Semantics.
The transaction is subject to the fulfilment or waiver of conditions specified in the agreements. Upon completion, Cogknit Semantics will become a subsidiary of Zen Technologies. The deal is expected to be completed by December 13, 2026, or a later date mutually agreed by the parties.
Founded in September 2009 and headquartered in Bengaluru, Cogknit Semantics develops indigenous AI-based battlefield management and situational-awareness systems for the armed forces. Its capabilities complement Zen Technologies’ existing defence training, simulation and anti-drone businesses.
Cogknit Semantics reported revenue of Rs 48 lakh in the financial year through March 2026, down from Rs 78 lakh in FY25 and Rs 2.24 crore in FY24, according to the filing.
The company has raised around $1.07 million across different funding rounds, including a seed round of approximately $680,000 in September 2020, with reported backers including Zephyr Engineering and Technology, SKILLDOM, Village Capital and Target Accelerator, according to Tracxn.
Under the shareholders’ agreement, Zen Technologies will have the right to nominate a majority of Cogknit Semantics’ directors. The agreement also provides for provisions governing changes in share capital, pre-emptive rights and information and inspection rights.
Zen Technologies develops defence training simulators and counter-drone systems for military and security applications.
