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Airbound, an innovative drone technology startup, has announced securing $1.7 million (approximately ₹14.34 crore) in seed funding. The round was led by Lightspeed, with participation from gradCapital and prominent angel investors. This investment will fuel Airbound's mission to transform the logistics landscape with its unique approach to drone delivery.
Airbound has developed a proprietary "blended wing body tailsitter" drone design called TRT, which boasts unparalleled efficiency and cost-effectiveness. By focusing on aerodynamic design and lightweight materials, Airbound claims its drones can reduce delivery costs by two orders of magnitude compared to traditional methods. The company asserts its drones are over three times lighter and four times more aerodynamically efficient than conventional alternatives, significantly reducing both upfront and operational costs.
"We scrutinized every vehicle system to reduce weight, enhance safety and reliability, and maximize efficiency," says Naman Pushp, Founder and CEO of Airbound. Pushp, who forewent a prestigious offer from Carnegie Mellon University to pursue his passion for drones, spent four years developing the TRT design with early backing from gradCapital.
This included innovating on carbon composite manufacturing, aerostructures, and advanced control systems. Airbound even developed new methods for manufacturing carbon fiber, resulting in incredibly lightweight yet strong components. "We developed new methods to manufacture carbon fiber, which allow us to reduce the weight of our Airframe from 6 pounds to 400 grams," explains Pushp. "Our goal isn’t just to build a great drone—we want to create a world where delivery is essentially free.”
Airbound's initial focus will be on medical deliveries, specifically routine supply transport such as moving blood samples between health centers and testing labs. This application is particularly crucial in India, where access to healthcare can be challenging in remote or underserved areas. The company envisions its drones playing a pivotal role in delivering essential goods like medicines and vaccines to these regions.
Once proven at scale, Airbound plans to expand into other sectors, including food and grocery delivery, where reduced logistics costs can significantly improve profitability. This strategic approach sets Airbound apart from competitors who prioritize speed and adapt existing drone technology for limited market segments.
"Drones are the future of deliveries and we are highly optimistic about the potential of this game-changing technology in revolutionizing logistics," says Hemant Mohapatra, Partner at Lightspeed. "Our investment in Airbound aligns with our mission of backing founders who can identify market gaps and pioneer path-breaking products to address those. We are incredibly excited to partner with Naman, confident that their innovation will redefine delivery logistics.”
Airbound's entry into the market comes at an opportune time. With many regulatory and technological hurdles now cleared, and public enthusiasm for drone technology growing, the primary challenge remaining is cost-effectiveness—a problem Airbound claims to have solved.
