New Delhi, Aug. 15 -- Bengaluru-based defence startup NewSpace Research and Technologies Pvt. Ltd (NRT) is in talks to raise a Rs.450-crore Series B round, led by Cornerstone Ventures, by the end of this year, said three people close to discussions.

Founded in April 2017 by Sameer Joshi and Julius Amrit, the startup is currently raising a Rs.267-crore bridge round, with about Rs.140 crore already subscribed by existing investors.

"Cornerstone Ventures did not participate in the bridge round but plans to come in during the upcoming Series B," said one of the three people.

The company has appointed LGT Wealth India, among others, as advisors to help with the fundraising, and the transaction is undergoing due diligence, the people said. ...