Airbound Raises $37 Million To Scale Drone Delivery and Building Larger Aircrafts
For the last year, Bengaluru startup Airbound has been using drones to deliver medicines and medical supplies much faster compared to trucks. Now, they’re ready to take that idea and The post Airbound Raises $37 Million To Scale Drone Delivery and Building Larger Aircrafts appeared first on Ventureburn .
Bengaluru-based startup Airbound secured $37 million in Series A funding to expand its drone delivery services and develop larger aircraft for commercial use. Led by Greenoaks, the funding round also saw participation from DoorDash, Lachy Groom, Lightspeed, and Humba Ventures. This investment brings Airbound's total capital raised to nearly $50 million since its inception in 2023, accelerating its mission to make air transport of goods and people more cost-efficient.
Airbound's journey began by delivering diagnostic samples for Narayana Health, where it reduced delivery times from hours to minutes without any failures. Now, the company aims to apply this technology to everyday deliveries, partnering with quick commerce and e-commerce companies to offer air delivery of small packages. A contract has already been signed to build a drone delivery network in three cities of Andhra Pradesh.
What sets Airbound's drones apart is their "tail-sitter" design, which enables them to take off and land vertically like a rocket, followed by forward flight like a regular plane. This hybrid design allows drones to access hard-to-reach locations while enjoying the fuel efficiency of a plane. The current drone model, TRT, weighs 3.3 pounds and can carry up to 2.2 pounds, with the next version expected to weigh 6.6 pounds and carry up to 11 pounds.
Airbound's founder Naman Pushp, who started building drones at age 15, emphasized that better physics leads to better economics, enabling the potential to move people and goods for a fraction of a cent. Investors are optimistic about Airbound's potential, with Greenoaks partner Neil Shah stating, "When one autonomous aircraft can move a single package with the cost efficiency of a fully loaded 20-ton truck, fast delivery and cheap delivery are no longer in tension."
While drone delivery is still far from matching the scale of trucks, Airbound remains confident that its approach can succeed in India's fast-paced market, and eventually, it will work globally. The company is already exploring larger aircraft that could eventually carry people, capitalizing on the increasing demand for rapid, low-cost delivery services.
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