Drone technology company Garuda Aerospace Ltd has closed its pre-IPO funding round, while Karkhana.io, an integrated electronics manufacturing services provider, has raised venture debt, the companies said.
Garuda Aerospace
Garuda Aerospace, which earlier this month filed draft papers for an initial public offering (IPO) through the confidential route, has closed its pre-IPO funding round.
The round saw participation from UAE-based Aditum Investment Management.
VCCircle reported in May this year that Garuda Aerospace was in talks to raise pre-IPO funding.
The investment will support the company’s focus on AI-led innovation, advanced drone technologies, manufacturing capabilities and expansion across defence, infrastructure, logistics, agriculture and industrial applications, it said.
Karkhana.io, which offers integrated electronics manufacturing services, has raised an undisclosed amount in venture debt funding from VentureSoul Partners.
The company is backed by institutional investors, including Vertex Ventures Southeast Asia & India, Arkam Ventures and SAI Global. It provides end-to-end electronics manufacturing services, including printed circuit board (PCB) assembly, box-build, sourcing and testing, to original equipment manufacturers (OEMs) across the electric vehicle (EV) and automotive, industrial, healthcare and consumer electronics sectors.
The investment will support Karkhana.io’s working capital requirements as existing programmes scale up to mass production, VentureSoul Partners said in a post on LinkedIn.
The funding will enable the company to tap growing demand for high-quality, locally manufactured electronics in India, the investor added, noting that it was partnering with a management team with deep manufacturing expertise.