We Founder Circle, a founder backing founder-based early-stage start-up investor has invested $325k Seed funding in TSAW (Technology in Space and Aero Works), a drone logistics service provider company.
The funding round also saw participation from Kartik Hajela (Founder Log9 materials), Soonicorn Ventures, and Zypp Electric.
The startup comes with a vision to revamp the logistics ecosystem by introducing a new and faster mode of transportation i.e. drones, the company said in a statement.
The Drone Logistic startup will use the bulk of the funds for team building and fueling operations and the rest will be divided equally into marketing and R&D.
Gurgaon-based TSAW was founded in 2019 by Kishan Tiwari and Rimanshu Pandey, It provides logistics services by creating an alternative mode of unmanned transport and developing drone corridors that will extend across the Indian geography.
And these services can be used by any subscriber on monthly subscription basis.
To make this possible, the startup has developed drones capable of carrying 5 kg payload to a distance of 40 km and is working on drones with longer range and higher payload capacity to carry any type of load.
“We are working towards empowering the logistics chain with drone technology. Though a lot of attempts have been made at exploring the domain, however very few have been successful in precise execution. We are glad the investors put their faith in the model and the team. These funds would give us a push in establishing our services across multiple cities which is the immediate plan for us”, said, Kishan Tiwari- Founder, TSAW.
The startup aims to use these funds to launch its services in three Tier 1 cities by the end of this financial year and reach every village in the next 5 years.
So far it has completed successful trials with various customers in Kolkata, Orissa, Indore, Mumbai, Gurgaon, Madhurai, Hyderabad and Coimbatore.
Soon it will also launch its own dedicated corridors for customers in Himachal and Uttarakhand to transport medical supplies.
“In order to democratise the tech explorations taking the leap of faith is important. TSAW is empowering a domain which has been in the air for long but not a lot of people have been able to unleash its complete potential. We are glad to have become a part of a greater mission and logistics revolution that TSAW is aiming to begin”, said, Gaurav VK Singhvi- Co-founder, We Founder Circle.
They are creating Drone Corridors across India, to meet specific B2B needs and B2B2C requirements citywide. Vision to create an alternate mode of transportation for small package deliveries across nation in the next 5 years.