Drone Startup Airbound Receives Funding from Lightspeed

The drone startup Airbound has secured $1.7 million, or roughly INR 14.34 crore, in its seed round, which was led by Lightspeed and included participation from gradCapital and other angel investors.

The money will help Airbound increase its research and development (R&D) activities, particularly in the area of medical supply chains. 

Airbound was established in 2022 by Faraaz Baig and Naman Pushp with the goal of revolutionizing logistics through the use of its unique blended wing body tailsitter drone, known as TRT. In comparison to conventional techniques, the business asserts that its drones can reduce delivery costs by up to two orders of magnitude. 

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“We are proud to have developed not only an industry-leading delivery drone, but also a highly efficient, scalable manufacturing process,” said Naman Pushp, Founder and CEO of Airbound. “We scrutinised every vehicle system to reduce weight, enhance safety and reliability, and maximise efficiency. We developed new methods to manufacture carbon fibre, which allow us to reduce the weight of our Airframe from 6 pounds to 400 grams. Our goal isn’t just to build a great drone—we want to create a world where delivery is essentially free.

The business intends to diversify into other areas, such as food and grocery delivery, where cutting logistics costs may greatly boost profitability when the technology has been validated at scale. The business claims that its drones have already traveled thousands of kilometers.

Hemant Mohapatra, partner, Lightspeed commented: “Drones are the future of deliveries and we are highly optimistic about the potential of this game-changing technology in revolutionising logistics. Our investment in Airbound aligns with our mission of backing founders who can identify market gaps and pioneer path-breaking products to address those. We are incredibly excited to partner with Naman, confident that their innovation will redefine delivery logistics.” 

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