India’s Airbound bags $37M to take on trucks with rocket-like drones
Airbound, an Indian startup building autonomous drones, has raised $37 million in fresh capital as it pushes to make moving goods through the air as cheap as trucking them by road. The Series A round, led by Greenoaks with participation from DoorDash, Lachy Groom, Lightspeed, and Humba Ventures, comes less than a year after Airbound raised an $8.65 million seed round.
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Key Facts
- Fact 1: Airbound, an Indian startup building autonomous drones, has raised $37 million in fresh capital as it pushes to make moving goods through the air as cheap as trucking them by road.
- Fact 2: The Series A round, led by Greenoaks with participation from DoorDash, Lachy Groom, Lightspeed, and Humba Ventures, comes less than a year after Airbound raised an $8.65 million seed round.
- Fact 3: With this funding, the three-year-old startup has raised nearly $50 million.
- Fact 4: Airbound’s current drone, called TRT, weighs about 3.3 pounds and can carry around 2.2 pounds of payload.
Airbound, an Indian startup building autonomous drones, has raised $37 million in fresh capital as it pushes to make moving goods through the air as cheap as trucking them by road. The Series A round, led by Greenoaks with participation from DoorDash, Lachy Groom, Lightspeed, and Humba Ventures, comes less than a year after Airbound raised an $8.65 million seed round.
With this funding, the three-year-old startup has raised nearly $50 million. Airbound, and other startups in this nascent sector, argue that drones can move certain goods faster and cheaper than vehicles on the road. And while there have been successful deployments, drone delivery is still far from matching the scale and versatility of trucking.
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Original source: TechCrunch
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