Deeptech Startup Pantherun Expands into Railway Signalling, 5G Networks with Significant $220 Million Order Pipeline

Pantherun Technologies Expands into Railway Signalling Systems and 5G Telecom Infrastructure

Bengaluru-based deeptech startup Pantherun Technologies is expanding its operations into railway signalling systems, metro collision-prevention networks, and 5G telecom infrastructure projects across Europe and the US. The company has secured an order pipeline of nearly $220 million that will be executed over the next three to four years.

Founded in 2019 by Srinivas Shekar and Taiwanese co-founder Tiffany Chan, Pantherun builds encryption and communication technologies for sectors such as telecom, railways, defence, automotive, and industrial systems. The company serves clients including Deutsche Bahn, Indian Railways, Vodafone Idea, and Bharat Electronics, along with global telecom and automotive companies.

Pantherun was incubated under Startup India and supported by the Indian Institute of Science (IISc), Bengaluru. Its investors include SIDBI Venture Capital, Capital2B, Piper Serica, GrowX Ventures, 8X Ventures, and PointOne Capital. The company is now preparing to raise a $35-40 million Series C round.

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The company's core technology allows data to be encrypted without slowing down network speeds, a problem that has traditionally limited encryption-heavy systems. Pantherun initially focused on securing video surveillance data in railways and defence projects but is now moving deeper into railway signalling systems where communication between sensors, control systems, and trains happens in real time.

Pantherun's technology is currently being used in Metro rail systems to help secure communication networks involved in collision-prevention systems. The company is also working on railway communication networks in Europe and the US, including projects with rail communication system integrator Actia Rail. Outside railways, Pantherun is working with Nokia and Ericsson on encrypted communication stacks for 5G base stations and telecom infrastructure.

In the automotive sector, Jaguar Land Rover and Rolls-Royce Engine Controls are integrating the company's encryption technology into connected vehicle systems. The startup has also entered industrial safety networks, where machine sensors exchange operational data in real time to reduce risks in automated industrial environments.

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Pantherun now has over 80 employees across India, Taiwan, Europe, and the US, compared to around 30 employees earlier. The company's revenue grew from around $1 million in FY25 to over $6 million this year. Pantherun is also developing post-quantum encryption products designed for hyperscale data centres and high-speed networks, aiming to achieve throughputs of 100 gigabits per second and then gradually up to 400 gigabits per second.