India, Oct. 27 -- Aerospace technology startup Parsec Aerospace, founded by former Pixxel engineer Effy John, is in talks to raise around $10 Mn (about Rs.95 Cr) in a funding round led by Nexus Venture Partners, sources told Inc42.

The funding round is also expected to see participation from existing investors, including Lightspeed Venture Partners, the sources added.

The Bengaluru-based startup is developing next-generation engines for aerospace applications and remains in stealth mode. Details about its engine technology, target customers, commercialisation plans, and proposed use of the fresh capital are not publicly available.

Queries sent to Parsec Aerospace and Nexus Venture Partners did not elicit a response by the time of publi...