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Arctus Aerospace raises $2.6 Mn in pre-seed round

EntrackrEntrackr ยท 14d ago
Arctus Aerospace raises $2.6 Mn in pre-seed round
Medial

Arctus Aerospace raises $2.6 Mn in pre-seed round Arctus Aerospace has raised $2.6 million in a pre-seed round from Version One Ventures, South Park Commons, gradCapital, and a group of angel investors including Balaji Srinivasan, Srinivas Narayan, early Ather engineers, and leaders from Bounce Infinity and Boom Supersonic. Arctus was also part of the South Park Commons Founder Fellowship earlier this year. Arctus Aerospace is building large unmanned aircraft capable of flying at 45,000 feet for up to 24 hours while carrying a 250-kilogram payload. The aircraft is designed to deliver real-time geospatial intelligence. Arctus is developing a full-stack manufacturing and engineering setup to support this platform. The platform supports SAR, hyperspectral, optical, EO and IR sensing. Imaging that typically costs $10,000 for 500 square kilometres can be delivered for roughly $500, allowing use across energy, infrastructure, climate, and security sectors. Arctus currently operates aircraft flying above 10,000 feet and delivers centimetre-level geospatial accuracy. The company builds its aircraft and conducts manufacturing and testing at its 25,000-square-foot facility in Bengaluru.

Nabhdrishti Aerospace raises $3 Mn led by Accel

EntrackrEntrackr ยท 8m ago
Nabhdrishti Aerospace raises $3 Mn led by Accel
Medial

Nabhdrishti Aerospace raises $3 Mn led by Accel Aerospace startup Nabhdrishti Aerospace has raised $3 million (around Rs 25 crore) in a funding round led by Accel, along with participation from IIMA Ventures and its existing investors. The proceeds will be used to boost the development and testing of its engine prototypes, as well as talent acquisition, Nabhdrishti Aerospace said in a press release. Co-founded in 2023 by Chouhan, Arjun Srivatsa, and Antanu Sadhu, Nabhdrishti Aerospace is building small gas turbines that will cater to hybrid urban air mobility, unmanned aerial vehicles (UAVs), and decentralized power generation appliances. The company claims its engine serves a dual purpose โ€” propulsion and power. It can cater to hospitals, heavy vehicles, manufacturing segments, as well as light aircraft, helicopters, and hybrid electric flights. According to the Bengaluru-based company, it is developing cutting-edge technologies designed to run on sustainable fuels, including green hydrogen, to power everything from UAVs to next-generation air mobility platforms. Nabhdrishti Aerospace focuses on building sustainable, indigenous propulsion systems to reduce Indiaโ€™s reliance on imported aerospace technology. It aims to generate early revenue while expanding its team, with new hires expected across engineering, production, and customer support by the end of the year. Over the next few years, the company plans to steadily scale its workforce to support its growing product portfolio and customer base. Other notable startups in this space include Garuda Aerospace, Bellatrix Aerospace, and Agnikul.

Exclusive: Garuda Aerospace converts into public company

EntrackrEntrackr ยท 9d ago
Exclusive: Garuda Aerospace converts into public company
Medial

Exclusive: Garuda Aerospace converts into public company Drone technology startup Garuda Aerospace is set to convert into a public company after passing a resolution approving the move, a step that signals its preparation for a potential public listing. According to its filing with the Registrar of Companies (RoC), Garuda Aerospaceโ€™s board has passed a resolution to rename the entity as Garuda Aerospace Limited by removing the word โ€œPrivateโ€. In line with regulatory requirements, the company has appointed Asha Vijayaraghavan, Mandakulathur Ramachandran Venkatesh, and Rithika Mohan as independent directors, while Vishnu Jayaprakash has been appointed as an additional director and Rithika Mohan has also been designated as a whole-time director. Founded in 2015, Garuda Aerospace is a drone-as-a-service startup that designs, manufactures, and customizes UAVs for uses such as deliveries, disaster management, and agriculture. The company operates Indiaโ€™s largest drone fleet with 400 drones and 500 pilots across 84 cities, offering 30 drone models and 50 related services. According to startup data intelligence platform TheKredible, Garuda Aerospace has raised approximately $44 million to date from investors such as Nagarajan Seyyadurai, Ocgrow Ventures, cricketer MS Dhoni and others. The company recently raised funding from the Narotam Sekhsaria Family Office to scale its manufacturing capacity from 8,000 drones a year to 12,000โ€“15,000 units, and it plans to expand its export presence to 50 countries by year-end. For the fiscal year ended March 2025, the MS Dhoni-backed firm posted profit of Rs 17.5 crore while operating revenue grew 7.3% to Rs 118 crore from Rs 110 crore in FY24. Earlier this year, Garuda's CEO indicated the IPO would not occur in 2025 but the company is in the planning phase to expand manufacturing, research, and development.

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