Drone Delivery Startup TechEagle Raises $500,000 In Seed Round The startup will use the funding to further launch new indigenous products, scale its operations in India, and hire across functions. With its on-demand drone delivery airline, the startup aims to impact a billion lives by 2030
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Gurugram-based TechEagle, a drone delivery startup, recently announced to have raised $500,000 in a Seed round led by India Accelerator (IA), with participation from Vinners Group, Sitics Logistics, and other angel investors.
"Just alone in India, each year we lose millions of lives because of non-availability of critical healthcare items (blood, platelet, plasma, anti-venom, vaccines, etc.) in remote, rural, and semi-urban areas. Aerial routes are shorter in comparison to roads, and with no traffic jams in the sky, our drones are super-fast with reverse logistics capabilities, hence the delivery of packages would be four-time faster, twice as economical, and 100 per cent reliable. We plan to use the funding to further launch new indigenous products, scale our operations in India, and hire across functions. With TechEagle's on-demand drone delivery Airline, the aim is to impact a billion lives by 2030," said Vikram Singh Meena, founder, and chief executive officer, TechEagle.
TechEagle is deeptech (drone, AI) company that is building the end-to-end technology solution for enabling a drone logistics airline for last-mile and mid-mile deliveries.
"India Accelerator is elated to back TeachEagle, our decision to accelerate and invest in TechEagle moves in the direction of helping companies build a global presence. We envisage that the year 2022 will be the year in which the hockey-stick upcurve in large scale usage of drones in India will happen, upon the strong foundation of the Drones Rules 2021. If the government has taken this bold move of notifying a liberal policy, then India will be the leader in this technology,'' commented Mona Singh, co-founder, IA.
"We saw the potential in the company and the founders. With the launch of Drone Rules 2021, the future of TechEagle looks promising. Also, the success of the pilot runs has accelerated the possibility of deploying beyond-line-of-sight drones for last-mile delivery of shipments in minimum time, to areas with improper road connectivity as well as faster deliveries in dense urban settings. We found these to be compelling reasons to invest in the company," mentioned Harvinderjit Bhatiya- co-founder, Vinners Group.
"We are delighted to invest in TechEagle. We believe drone delivery is the next big thing in the last mile delivery. Sitics with TechEagle will be the pioneer in drone-based deliveries internationally. As the traction for drone-based deliveries increases in India and around the world, Sitics will be one of the first movers in the Logistic Industry to adopt this technology. As a digitally enabled supply chain provider, Sitics sees the move into drone deliveries as path-breaking," added AM Sikander, chief executive officer, Sitics Logistics.
To make its vision a reality, TechEagle has already received approvals from the Government of India (MoCA) and the Regulators (DGCA) to conduct package delivery "beyond the visual line of sight' (BVLOS) flights in various parts of the country.
