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Dronetech startup Airbound raises $1.7 Mn in seed capital

EntrackrEntrackr · 9m ago
Dronetech startup Airbound raises $1.7 Mn in seed capital
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.

Dronetech startup TechEagle raises bridge round

EntrackrEntrackr · 1y ago
Dronetech startup TechEagle raises bridge round
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.

Centricity, Trisu, GameEon and Dharaksha raise early-stage funding

VCCircleVCCircle · 11m ago
Centricity, Trisu, GameEon and Dharaksha raise early-stage funding
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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