Aerospace technology startup Parsec Aerospace, founded by former Pixxel engineer Effy John, is in talks to raise around $10 Mn (about ₹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 publication.
John founded Parsec Aerospace after working at spacetech startup Pixxel, which develops hyperspectral imaging satellites and Earth-observation technology.
Parsec Aerospace was incorporated in September 2025, according to publicly available corporate records.
The funding talks come amid increased capital deployment into India’s deeptech ecosystem, spanning aerospace, defence technology, robotics, and semiconductors.
Indian deeptech startups raised $290 Mn across 28 deals in Q3 2026 compared with $105 Mn across 29 deals in the corresponding quarter last year. Funding rose nearly 2.8X, although the number of deals edged lower.
Among recent investments, metal additive manufacturing startup ThinkMetal raised ₹27 Cr in a round led by IAN Alpha Fund earlier this month. The startup builds industrial printing systems used to manufacture tools such as moulds, dies, jigs, and fixtures.
In September, Aeron Systems raised ₹45 Cr in a pre-Series B round jointly led by Riverwalk Holdings and MGF-Kavachh .
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