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Drone delivery startup Airbound raises $1.7 million in seed funding led by Lightspeed
Economic Times
·
8m ago
Medial
Drone technology startup Airbound has secured $1.7 million in seed funding led by Lightspeed Venture Partners. The company has developed a long-distance drone called TRT, capable of carrying up to 1.5kg of payload. Airbound aims to revolutionize logistics by leveraging its proprietary technology to reduce delivery costs. The funding will be used for further research and development as well as expanding into medical deliveries, including transporting blood samples. Airbound plans to launch its product in early 2025. The drone startup sees potential opportunities for drone delivery in the quick commerce sector, particularly in tier-II and tier-III cities in India.
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Airbound, Mushin Innovative Labs, OnePlay pocket funding cheques
VCCircle
·
8m ago
Medial
Airbound, Mushin Innovative Labs, and OnePlay have successfully raised early-stage funding. Drone technology startup, Airbound, raised $1.7 million in a seed round led by Lightspeed, with plans to focus on medical deliveries and later expand into food and grocery delivery. SaaS startup, Mushin Innovative Labs, secured $250,000 in a seed funding round to support sales and marketing efforts, research and development, and product innovation. Cloud gaming platform, OnePlay, brought on board gaming industry veteran Akshat Rathee as an investor and advisory board member as it seeks to expand its reach in India's gaming market and beyond.
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Dronetech startup Airbound raises $1.7 Mn in seed capital
Entrackr
·
8m ago
Medial
Drone technology startup Airbound has raised $1.7 million in a seed round led by Lightspeed, with additional participation from gradCapital and other angel investors. The Bengaluru-based company had previously raised $50.1K. Airbound plans to deploy the fresh funds towards R&D efforts, initially focusing on medical deliveries, such as routine supply transportation from health centers to testing labs. The company also aims to expand into other applications, including food and grocery delivery, where reducing logistics costs can significantly boost profitability, according to a press release. Founded in 2020 by Naman Pushp, Airbound is a drone delivery company focused on building next-generation drones that can reduce last-mile delivery costs by over two orders of magnitude. The company claims to overcome key technological bottlenecks, condensing 30 kg of hardware into 1 kg, which improves safety, scalability, and operational costs. Its proprietary blended wing body tailsitter design, known as TRT, aims to transform logistics. Airbound states that its TRT design will produce the lightest, safest, and most economically viable delivery drone, reducing delivery costs to just a few cents. The company asserts that its drone is over three times lighter than conventional alternatives, with four times the aerodynamic efficiency, significantly lowering both upfront and operational expenses. Airbound meticulously examines every vehicle system to reduce weight, enhance safety and reliability, and maximize efficiency. It has introduced innovative carbon fiber manufacturing methods, allowing the weight of the airframe to be reduced from 6 pounds to just 400 grams. In India, Airbound competes with Red Wing and Tech Eagle, while it competes with companies like Wing and Zipline globally.
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Stable Money raises $5 million in seed funding led by Matrix Partners India and Lightspeed
Money Control
·
1y ago
Medial
Stable Money, a startup focused on providing financial solutions to gig economy workers, has secured $5 million in seed funding. The funding round was led by Matrix Partners India and Lightspeed, signifying investor confidence in the company's mission to support gig workers' financial stability through innovative solutions.
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Dronetech startup TechEagle raises bridge round
Entrackr
·
1y ago
Medial
On-demand drone delivery and logistics firm TechEagle has raised funds from Paytm founder Vijay Shekhar Sharma, Navam Capital and Inflection Point Ventures (IPV) in its bridge round. Earlier to this round, TechEagle raised $500K in its seed funding round led by India Accelerator in 2021. The bridge round, which is undisclosed, also saw participation from Venture Catalysts and a group of high-net-worth individuals. The proceeds will be used to fuel the company’s efforts to launch higher payload drones for mid-mile and inter-city deliveries, the company said in a press release. Founded in 2017 by Vikaram Singh Meena and Anshu Abhishek, TechEagle is a drone logistics startup that enables on-demand autonomous drone delivery for its clients. With a focus on beyond visual line of sight (BVLOS) drone operations, TechEagle caters to last-mile logistics in urban and semi-urban areas.
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Drone delivery startup Skye Air raises $4 million in funding
Economic Times
·
1y ago
Medial
Skye Air, a drone delivery logistics provider, has secured $4 million in funding in a round led by Mount Judi Ventures, Chiratae Ventures, and other investors. The funds will be used to expand Skye Air's last-mile drone delivery network in Gurugram and other cities, particularly for healthcare, e-commerce, and quick-commerce deliveries. Skye Air, founded in 2019, provides sustainable last-mile logistics solutions using drones and has developed a traffic management system for regulating drone traffic and ensuring safety. The investment reflects the potential of the rapidly growing drone delivery industry in India.
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Proost, Swish, PeLocal, Theranautilus bag early-stage cheques
VCCircle
·
8m ago
Medial
Proost, Swish, PeLocal, and Theranautilus have recently announced securing early-stage investments. Proost, a beer startup, raised $3.5 million in a Series-A round led by Chimes Group and Srinivasan Namala. Swish, a food-delivery startup, completed a seed funding round raising $2 million with participation from Accel, Urban Company founders, and Karthik Gurumurthy. Fintech startup PeLocal received $2 million in seed funding led by Unicorn India Ventures and plans to expand its payment services through WhatsApp. Theranautilus, a deep-tech startup, gained $1.2 million in seed funding led by pi Ventures for developing nanorobotic solutions for healthcare.
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Fashion delivery startup Slikk Club raises $3.2 million
Economic Times
·
4m ago
Medial
Bengaluru-based Slikk Club, a 60-minute fashion delivery startup, secured $3.2 million in funding led by Lightspeed, with participation from Multiply Ventures and several angel investors. The funds will expand operations in Bengaluru, covering 80% of the city's pin codes by setting up dark stores, introducing new categories, and adding brands. Founded by Akshay Gulati, Om Prakash Swami, and Bipin Singh, the startup plans to expand into tier-1 and tier-2 cities over five years while enhancing its platform.
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Bachatt bags ₹34 crore funding from Lightspeed, Info Edge Ventures
Inshorts
·
3m ago
Medial
Fintech startup Bachatt has raised over ₹34 crore in a seed funding round co-led by Lightspeed and Info Edge Ventures. While Lightspeed infused ₹23 crore, $8 crore was infused by the Sanjeev Bikhchandani-led VC firm. The round saw Urban Company cofounder Abhiraj Bhal, L&T Finance Sunil Prabhune, OYO COO Abhinav Sinha and CSO Maninder Gulati join the startup table.
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Centricity, Trisu, GameEon and Dharaksha raise early-stage funding
VCCircle
·
10m ago
Medial
Wealthtech management company Centricity raised $20 million in a seed funding round led by Lightspeed, bringing its valuation to $125 million. The funding will be used to expand operations and double the tech development team. Biotech-driven R&D startup Dharaksha Ecosolutions secured $3 million in a seed funding round led by Avaana Capital to expand production capabilities and strengthen its presence in the sustainable packaging industry. Mumbai-based game development studio GameEon Studios raised $1 million to develop new games for PC and consoles. Vermeil jewelry brand Trisu raised an undisclosed amount in its pre-seed funding round to enhance customer acquisition and drive product innovation.
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Turno, four others secure early-stage funding
VCCircle
·
1y ago
Medial
Indian startups Turno, Vegapay, Fyllo, Gramiyaa, and TechEagle have all raised early-stage funding. Commercial electric vehicle startup Turno secured $6 million in an extended Series A funding round, while fintech startup Vegapay raised $5.5 million in a seed funding round led by Elevation Capital. Agritech startup Fyllo received $4 million in funding, cold-pressed oil maker Gramiyaa raised $1.1 million in equity and debt infusion, and drone logistics startup TechEagle secured an undisclosed amount of funding in a bridge round. Specific plans for the funds were detailed by each startup.
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