India, Aug. 28 -- Deeptech startup Arctus Aerospace is in talks to raise $2.4 Mn to $3 Mn in its pre-seed round from a group of investors, including South Park Commons and gradCapital, sources told Inc42.

The round, which will be led by an overseas VC firm, is in the final stages of closing, and will be announced soon, the sources added.

The startup, which is currently in pre-revenue stage, will deploy the fresh capital towards product development.

A questionnaire sent to Arctus founder Shreepoorna S Rao didn't elicit any response till the time of publishing this story.

Founded in 2023 by IIT Madras alumnus Rao, Arctus started with a vision to provide unmanned aerial vehicles (UAVs) for defence forces. However, it later pivoted to ope...