Skye Air Lands USD 4 Mn Series A for Drone Delivery Expansion The fresh proceeds will help the Delhi-based startup expand its last-mile network across Gurugram and other cities for healthcare, e-commerce, and quick-commerce deliveries.
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Drone delivery startup Skye Air has announced the raising of USD 4 million in its Series A round from Mount Judi Ventures, Chiratae Ventures, Venture Catalyst, Windrose Capital, and Tremis Capital.
Faad Capital, Misfits Capital, Hyderabad Angels, Soonicorn Ventures, and other existing investors, family offices, and angels also participated in the round.
It had raised USD 1.7 million in its seed round, led by Chiratae Ventures, in November 2022.
Ankit Kumar, Founder and CEO, Skye Air, said, "The fresh capital will help the company expand its last-mile network across Gurugram and other cities for healthcare, e-commerce, quick-commerce deliveries, and food industries.
Founded by Ankit Kumar and Chandra Prakash, Skye Air is making sustainable last-mile logistics solutions across the healthcare, e-commerce, quick-commerce, and food industries.
Apoorva Ranjan Sharma, Founder and Managing Director at Venture Catalysts, said, "India's vast and diverse terrain demands an efficient and innovative logistics system, and drone-based last-mile deliveries are at the forefront of this revolution."
"The current government's policies governing the drone or UAV ecosystem, such as a ban on the import of drones to encourage local production and stringent drone certification processes to ensure safety and quality, have led to a surge in drone startups and significant investments in this futuristic logistics solution," Sharma added.
According to Sharma, India's drone industry is expected to grow from INR 2,900 crore in 2020 to INR 81,600 crore by 2025.
