Bengaluru-based drone technology startup Airbound has successfully raised $1.7 million in a seed funding round, led by Lightspeed, with participation from gradCapital and other angel investors. This new round of funding builds on the company’s previous raise of $50.1K and will be directed towards furthering Airbound’s research and development efforts, particularly in the field of medical deliveries.
Founded in 2020 by Naman Pushp, Airbound aims to build next-generation drones that can drastically reduce last-mile delivery costs. The company’s key innovation is its proprietary drone design known as the TRT (blended wing body tailsitter), which significantly reduces both weight and operational costs. Airbound claims that its drones are more than three times lighter than traditional models, offering four times the aerodynamic efficiency and making them safer, more scalable, and economically viable.
The company’s focus is initially on transforming medical logistics by improving the transportation of routine supplies from health centers to testing labs, a service that is critical for ensuring timely and cost-effective healthcare delivery. Beyond this, Airbound plans to expand into food and grocery delivery, where it believes it can further reduce logistics costs and boost profitability for businesses.
Airbound’s drone technology is built with efficiency and safety at its core. The company has adopted advanced carbon fiber manufacturing techniques to reduce the weight of its airframes from 6 pounds to just 400 grams, significantly enhancing the drone’s performance. Airbound’s drones are designed to be lightweight and cost-effective, with the company asserting that the cost of delivery could be reduced to just a few cents per package.
The startup faces competition from local players like Red Wing and Tech Eagle, as well as international giants such as Wing and Zipline. However, Airbound’s innovations in reducing weight and improving operational efficiency could position it as a game-changer in the drone delivery sector, which is poised for rapid growth in the coming years.
With this funding, Airbound is set to accelerate its plans to deploy drones for medical logistics and beyond, revolutionizing the way goods are delivered in India and globally.
