Airbound Raises USD 37 Mn Series A

Bengaluru-based aerospace company Airbound has raised USD 37 million in a Series A round led by Greenoaks to expand engineering, commercial-scale manufacturing and market operations.

The round saw participation from new and existing investors, including DoorDash, Lachy Groom, Lightspeed and Humba Ventures. Airbound has raised nearly USD 50 million since its launch in 2023.

The company also signed a commercial deployment agreement with the Andhra Pradesh government to develop an autonomous drone delivery network connecting three cities.

Under the programme, Airbound plans to scale the network to up to 10,000 daily flights for retail, e-commerce and healthcare deliveries. The company said the programme will serve as a model for expanding aerial delivery networks across India.

Airbound designs and manufactures autonomous transport aircraft focused on reducing the weight and operating costs associated with aerial delivery. Its aircraft are designed to carry around 100 kg of cargo while reducing the aircraft weight required to transport the payload.

The company has completed more than 1,000 autonomous flights in India without a mission failure. In partnership with Narayana Health, Airbound has used its aircraft to transport diagnostic samples between healthcare facilities, reducing delivery times from hours to minutes.

The company said its aircraft are designed and tested in India and will initially focus on cargo and logistics applications before expanding into passenger transportation.

“We believe in a world where all movement happens in the air. Not some of it. Not most of it. All of it,” said Naman Pushp, Founder and CEO of Airbound. “Better physics leads to better economics, which unlocks the potential to move people and goods for a fraction of a cent.”

Airbound said the Andhra Pradesh deployment will support the development of its commercial operations and provide a framework for expanding autonomous aerial deliveries across the country.