TSAW Secures $325,000 In Seed Funding to Develop Drone Logistics Ecosystem
Last-mile connectivity startup Zypp Electric is a strategic investor in the round
Gurugram-headquartered Technology in Space and Aero Works (TSAW), a drone logistics service provider, has raised $325,000 in a seed round led by We Founder Circle, a founder backing founder community and an early age startup investment platform.
The round witnessed participation from Log9 Materials founder Kartik Hajela, Soonicorn Ventures, early-stage startup accelerator Pedal Start and Zypp Electric. The brand was bootstrapped so far, and this is the first fundraise.
TSAW will exhaust a major part of the raised investment in team-building and fuelling operations and divide the rest of the fund equally between marketing and research and development, said a statement.
"We are working towards empowering the logistics chain with drone technology. Though a lot of attempts have been made at exploring the domain, however, very few have been successful in precise execution. We are glad the investors put their faith in the model and the team. These funds would give us a push in establishing our services across multiple cities, which is the immediate plan for us," said Kishan Tiwari, founder, TSAW.
TSAW is targeting to start its services in three Tier 1 cities by the end of this financial year by utilising these funds and aims to reach each and every village in the next five years. The company is working with Zypp Electric to enable end-to-end last-mile deliveries anywhere within a city in 20 minutes. So far, TSAW has completed successful trials in Kolkata, Orissa, Indore, Mumbai, Gurgaon, Madhurai, Hyderabad and Coimbatore with various clients. Soon the company plans to launch its dedicated corridors for clients in Himachal and Uttarakhand for transportation of medical supplies.
"In order to democratise tech explorations, taking a leap of faith is important. TSAW is empowering a domain which has been in the air for long but not a lot of people have been able to unleash its complete potential. We are glad to have become a part of a greater mission and logistics revolution that TSAW is aiming to begin," said Gaurav VK Singhvi, co-founder, We Founder Circle.
Founded in 2019, TSAW is a drone logistics service provider with a vision to recreate the logistics ecosystem by introducing a new and faster mode of transportation, i.e., drones. These services can be used by any client on a monthly subscription basis. To make this possible, TSAW has developed drones capable of carrying 5Kg payload to a distance of 40Km and is working on drones with longer range and higher payload capacity to carry any kind of loads. The company claims that all these drones are operated on lithium batteries with zero carbon emissions. All the drones are powered by TSAW's propriety Drone Cloud Intelligence System (DCIS), a cloud-based autopilot which performs jobs like automatic path planning, drone traffic deconfliction and predictive health management & recovery, hence reducing the downtime to approximately zero mins between flights and providing better operational efficiency, said the statement.