Pavestone Technology Fund has invested $21million (approx ₹160 crore) in Bengaluru-based drone technology startup NewSpace Research and Technologies (NRT).

Desai & Diwanji represented Pavestone Capital in the transaction.

Associate Partner Prerana Chaudhari led the transaction for Pavestone Capital, assisted by Associate Partner Rahul Deodhar, with inputs from Partner Siddharth Mody.

This is possibly the largest venture capital funding into the defence sector to date, as reported by the Economic Times.

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