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Tsalla Aerospace raises $1 Mn in maiden funding round

EntrackrEntrackr · 7d ago
Tsalla Aerospace raises $1 Mn in maiden funding round
Medial

Snippets Tsalla Aerospace raises $1 Mn in maiden funding round Tsalla Aerospace has raised $1 million in its first external funding round led by Sunny Stalnaker, executive VP at ASML, with additional support from SIDBI and equity-free grants from the Ministry of Defence’s Innovations for Defence Excellence (iDEX) programme. The proceeds will be used to expand its autonomous systems platform and scale deployment for defence and industrial use cases. Founded in 2019 and incubated at the Indian Institute of Science (IISc), Tsalla Aerospace builds an AI-based autonomy stack for drones and unmanned systems. Its AI Pilot enables unmanned platforms to operate without GPS or communication support and aims to function with zero operator intervention. Tsalla works with the Indian Navy and Indian Army on multiple projects. These include confined-space reconnaissance systems, backpack-based VTOL platforms designed for single-person operation, and logistics use cases such as ship-to-ship delivery in difficult weather conditions. Tsalla competes with domestic defence and autonomy companies such as ideaForge, NewSpace Research & Tech, Sagar Defence, CRON Systems, and global dual-use autonomy developers. According to the company, it also plans to raise $8 million in a seed round to expand its autonomy stack, grow deployments in India and international markets, and enter new defence and industrial segments.

Pravega Ventures leads $3 Mn pre-Series A round in Constelli

EntrackrEntrackr · 9m ago
Pravega Ventures leads $3 Mn pre-Series A round in Constelli
Medial

Pravega Ventures leads $3 Mn pre-Series A round in Constelli Aerospace and defence tech startup Constelli has raised $3 million in a pre-Series A funding round led by Pravega Ventures. This is the company's first institutional funding round. The proceeds will be deployed towards capital expenditure and research and development (R&D) of new products, Constelli said in a press release. Co-founded in 2017 by Satya Gopal Panigrahi and Avinash Chenreddy, Constelli specializes in developing advanced signal processing solutions and tools that enhance the design, development, and testing of critical aerospace and defence systems. According to the Hyderabad-based company, it leverages modern technologies and advancements in hardware and software, modeling and simulation, and distributed computing to achieve transformation. The company focuses on enhancing technical sophistication and expediting the development lifecycle of payloads for airborne and ground defence platforms. Constelli says that its products and services are used globally by organizations developing radar and electronic warfare (EW) systems. The company claims that it serves India's Ministry of Defence, the Defence Research and Development Organisation (DRDO), and defence contractors in South Korea, Australia, and Singapore. The other notable players in this space are NewSpace Research & Technologies, IdeaForge, Garuda Aerospace, and others.

ETtech Deals Digest: Startup funding in March falls 37% to $623 million

Economic TimesEconomic Times · 1y ago
ETtech Deals Digest: Startup funding in March falls 37% to $623 million
Medial

In March 2024, technology startups secured $622.5 million in funding across 63 rounds, marking a 37% decrease compared to the previous year. The funding landscape had been challenging since September 2022. Fintech, edtech, deeptech, software-as-a-service, and healthtech sectors received the most funding. Blume Ventures emerged as the top investor by volume, supporting startups like Ultrahuman, SuperK, Optimo Loan, Vobble, and Bambrew. The overall deal volume and value declined sequentially, with the last week of March experiencing a significant drop. Notable deals included Pocket FM raising $103 million, Perfios securing $80 million, Lohum receiving $14 million, Newspace Research & Technologies collecting $52 million, and Skyflow extending its Series B funding with $30 million.

T-Hub Launches Funding Programme For Defence And Aerospace Innovation

OutlookIndiaOutlookIndia · 11m ago
T-Hub Launches Funding Programme For Defence And Aerospace Innovation
Medial

T-Hub, a start-up incubator, has launched the SIDBI-T-Hub Funding Programme to support the domestic defence and aerospace sectors. The company has also signed strategic MoUs with key industry players, including KAVACHH, IISSR, BDL, Collins Aerospace, and more. These collaborations aim to facilitate knowledge exchange, technological progress, and create an ecosystem for innovation. The funding programme will bridge the financial gap for emerging start-ups in these sectors, nurturing innovation and addressing national security needs. The National Defence and Aerospace Innovation Summit (DIAS) provided a platform for start-ups to showcase disruptive technologies and pitch ideas to experts and investors in the field.

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