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Aerospace startup Sarla Aviation raises $10 Mn led by Accel

EntrackrEntrackr · 5m ago
Aerospace startup Sarla Aviation raises $10 Mn led by Accel
Medial

Sarla Aviation, an aerospace startup developing electric aircraft for flying taxis, has secured $10 million in funding, led by Accel. Angel investors, including Flipkart co-founder Binny Bansal, Zerodha co-founder Nikhil Kamath, and Swiggy’s Sriharsha Majety, also participated in the round. Sarla Aviation intends to utilize the funds to establish a research and development center in Bengaluru. The company also plans to launch its flying taxis by 2028. Founded in 2024 by Adrian Schmidt, Rakesh Gaonkar, and Shivam Chauhan, the company is preparing to debut its first prototype, named Shunya, on January 17 at the Bharat Mobility Global Expo in New Delhi. The aircraft is built to carry up to 680 kilograms and accommodate six passengers, in addition to the pilot. Last year, Sarla Aviation partnered with Bengaluru International Airport to prepare for the rollout of its flying taxi service. The development follows Accel's launch of a $650 million eighth fund to support early-stage startups in India and Southeast Asia, focusing on enterprise AI, consumer services, fintech, and manufacturing.

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Nabhdrishti Aerospace raises $3 Mn led by Accel

EntrackrEntrackr · 3m ago
Nabhdrishti Aerospace raises $3 Mn led by Accel
Medial

Nabhdrishti Aerospace raises $3 Mn led by Accel Aerospace startup Nabhdrishti Aerospace has raised $3 million (around Rs 25 crore) in a funding round led by Accel, along with participation from IIMA Ventures and its existing investors. The proceeds will be used to boost the development and testing of its engine prototypes, as well as talent acquisition, Nabhdrishti Aerospace said in a press release. Co-founded in 2023 by Chouhan, Arjun Srivatsa, and Antanu Sadhu, Nabhdrishti Aerospace is building small gas turbines that will cater to hybrid urban air mobility, unmanned aerial vehicles (UAVs), and decentralized power generation appliances. The company claims its engine serves a dual purpose — propulsion and power. It can cater to hospitals, heavy vehicles, manufacturing segments, as well as light aircraft, helicopters, and hybrid electric flights. According to the Bengaluru-based company, it is developing cutting-edge technologies designed to run on sustainable fuels, including green hydrogen, to power everything from UAVs to next-generation air mobility platforms. Nabhdrishti Aerospace focuses on building sustainable, indigenous propulsion systems to reduce India’s reliance on imported aerospace technology. It aims to generate early revenue while expanding its team, with new hires expected across engineering, production, and customer support by the end of the year. Over the next few years, the company plans to steadily scale its workforce to support its growing product portfolio and customer base. Other notable startups in this space include Garuda Aerospace, Bellatrix Aerospace, and Agnikul.

10 min food delivery startup Swish raises $14 Mn

EntrackrEntrackr · 3m ago
10 min food delivery startup Swish raises $14 Mn
Medial

Exclusive: 10 min food delivery startup Swish raises $14 Mn Swish, a 10-minute food delivery startup, has secured Rs 122.32 crore in its Series A funding round, led by Hara Global Capital and existing investor Accel India. This follows just three months after its $2 million seed round. The board at Swish has passed a special resolution to issue 4,762 Series A compulsory convertible preference shares at an issue price of Rs 2,56,334 each to raise Rs 112.3 crore or $14 million, its regulatory filing accessed from the Registrar of Companies shows. Hara Global Capital led the round with Rs 69.56 crore while Accel India invested Rs 52.18 crore. Kunal Shah-led QED innovation, and Gaurav Munjal (CEO of Unacademy) and Sumer Juneja, investment advisor at SoftBank, participated with Rs 20.5 lakhs, Rs 5 and Rs 30.7 lakh respectively. According to Entrackr's estimates, the company has been valued at around Rs 522 crore or $60 million post-allotment. After the new funding round, Hara Global Capital will own 13.33%, while Accel India will hold a 27.24% stake in the company. Co-founders Aniket Sunil Shah, Sureshkumar Sarana, and Ujjwal Sukheja will each retain a 16.38% share following the Series A round. Founded in 2024, Swish’s 10-minute delivery model operates within a 1.5–2 km radius using cloud kitchens called ‘delight centers,’ ensuring fresh and hygienic food is delivered swiftly through its optimized full-stack approach. Swish is competing in the fast-expanding instant food delivery market, where Zomato, Swiggy, and Zepto are leading the charge. Zomato-owned Blinkit has also launched Bistro, a standalone app for instant food delivery. In December, Bhavish Aggarwal-led Ola entered the segment, while emerging players like Magicpin and Zing are gaining traction. The latest entrant to the space is cloud kitchen unicorn Rebel Foods, which has introduced a new app called QuickiES.

Nabhdrishti Aerospace raises pre-seed round led by IIMA Ventures

EntrackrEntrackr · 1y ago
Nabhdrishti Aerospace raises pre-seed round led by IIMA Ventures
Medial

Deeptech startup Nabhdrishti Aerospace has raised Rs 3 crore in its pre-seed round led by IIMA Ventures (Formerly IIMA-CIIE). The proceeds will be used to develop fuel flex combustor prototype via thorough testing on the fuel injector and combustor, the company said in a press release. This will enable the company to showcase the proprietary fuel flex technology. This will be followed by designs within the power range of 300 SHP to 1,000 SHP and above. Founded in 2023 by Rohit Chouhan and Arjun Srivatsa, Nabhdrishti Aerospace will design and develop gas turbine engines, beginning with a 350 SHP turbo-prop engine for aviation and power generation use cases. As per the company, the micro gas turbine (MGT) engines will be developed and manufactured and will feature fuel flexibility to enable clean fuel compatibility and enhanced efficiency. The first product, ND 350, will be a 275 KW Turbogenerator. The same core, when coupled with a propeller, claims to generate 350 SHP that can power UAVs (unmanned aerial vehicle) and hybrid electric VTOLs (vertical take-off and landing). Earlier this month, Bengaluru-based aerospace components manufacturer JJG Aero raised $12 million from CX Partners. In January, Jeh Aerospace raised $2.75 million in a seed funding round led by General Catalyst.

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