Indian drone startup Airbound raises $37 million for aerial delivery network

Indian drone startup Airbound has raised $37 million in a Series A funding round, bringing its total funding to nearly $50 million. The investment was led by Greenoaks, with participation from notable investors including DoorDash, Lachy Groom, Lightspeed, and Humba Ventures. This significant capital injection aims to bolster Airbound's efforts to make aerial delivery a more competitive alternative to road transport.

The three-year-old company specializes in developing lightweight autonomous aircraft capable of vertical takeoff and transition to horizontal flight. Airbound has already completed over 13,000 autonomous flights, demonstrating the viability of its technology. The company's immediate plans involve establishing a three-city delivery network within the Indian state of Andhra Pradesh.

Looking ahead, Airbound has set an ambitious target of achieving up to 10,000 flights per day. These deliveries are intended to serve various sectors, including retail, e-commerce, and healthcare. The company's focus on autonomous aerial logistics positions it as a key player in the evolving landscape of delivery services, potentially revolutionizing how goods are transported across the region.