On-demand drone delivery and logistics startup TechEagle has successfully secured additional funding in a bridge round. This round saw participation from notable investors including Paytm founder Vijay Shekhar Sharma, Navam Capital, and Inflection Point Ventures (IPV).
TechEagle, which previously raised $500K in its seed funding round led by India Accelerator in 2021, has not disclosed the amount raised in this latest round. However, the bridge round also attracted investment from Venture Catalysts and a group of high-net-worth individuals, indicating strong investor confidence in the company’s growth potential.
The newly acquired funds will be directed towards enhancing TechEagle’s drone technology, specifically the development of higher payload drones. These advancements are aimed at improving mid-mile and inter-city delivery capabilities, enabling more efficient and extensive logistics solutions.
Founded in 2017 by Vikaram Singh Meena and Anshu Abhishek, TechEagle has positioned itself as a leader in the drone logistics sector. The company specializes in on-demand autonomous drone deliveries, focusing on beyond-visual line of sight (BVLOS) operations. This approach is particularly beneficial for last-mile logistics in both urban and semi-urban areas, providing a scalable and efficient solution for modern delivery challenges.
With support from prominent investors and its ongoing technological advancements, TechEagle is set to play a pivotal role in the future of logistics and drone delivery services.
