Airbound, an Indian startup focused on autonomous drones, has raised $37 million in new capital. This Series A round, led by Greenoaks with participation from DoorDash, Lachy Groom, Lightspeed, and Humba Ventures, aims to make moving goods by air as cost-effective as road transport.
The three-year-old company has now secured nearly $50 million in total funding. Airbound has completed over 13,000 autonomous flights across Bengaluru and Guntur, including more than 1,000 flights transporting diagnostic samples for the Narayana Health hospital network.
Airbound's drones use a rocket-like, tail-sitter design for vertical take-off and landing. The current TRT drone weighs about 3.3 pounds and can carry approximately 2.2 pounds. A next version is expected to weigh around 6.6 pounds and carry up to 11 pounds.
The startup plans to establish a drone delivery network connecting three cities in Andhra Pradesh, with an eventual target of 10,000 flights daily for retail, e-commerce, and healthcare. This initiative is supported by an agreement with the state government regarding the necessary regulatory framework.