India, Nov. 26 -- Update | November 26, 10:35 IST

Deeptech startup Arctus Aerospace has officially announced its pre-seed round, raising $2.6 Mn (around INR 23 Cr) from Version One Ventures, South Park Commons, gradCapital.

Besides this, the startup also raised funds from former Coinbase CTO Balaji Srinivasan and OpenAI CTO Srinivas Narayan among other angel investors.

The startup said it is building up operations from a 25,000 sq. ft facility in Bengaluru, where it manufactures and tests its drones in-house.

Arctus said only a handful of companies globally have built aircraft with comparable endurance and altitude capabilities, and none have offered it as an accessible commercial platform.

Original | August 28, 18:47 IST

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