Drone startup Airbound raises $1.7 million funding, to focus on deliveries

Airbound will deploy its R&D efforts to initially focus on medical deliveries and then expand into other areas such as food and groceries

Airbound, a drone technology startup, has raised a $1.7 million seed round led by Lightspeed and saw participation from gradCapital as well as prominent angel investors.  

 

With this funding, Airbound will deploy its R&D efforts to initially focus on medical deliveries, such as transporting blood samples from health centers to testing labs. Once the system is proven at scale, it plans to expand into other applications including food and groceries delivery, where reducing logistics costs can significantly enhance profitability.  

 

“Airbound has developed not only an industry-leading delivery drone, but also a highly efficient, scalable manufacturing process,” said Naman Pushp, Founder and CEO of Airbound. “We scrutinised every vehicle system to reduce weight, enhance safety and reliability, and maximize efficiency. We developed new methods to manufacture carbon fiber, which allow us to reduce the weight of our Airframe from 6 pounds to 400 grams. Our goal isn’t just to build a great drone—we want to create a world where delivery is essentially free.” 

 

Historically, the drone delivery industry has faced challenges due to regulatory complexity and high per-mile costs. This has prevented drones from becoming the default solution for last-mile logistics. Airbound said its proprietary blended wing body tailsitter design, called TRT, helps make the lightest, safest, and most economically viable delivery drone, reducing the cost of deliveries to just a few cents on the dollar.  

 

The firm’s journey started as a high school project for Naman Pushp, who turned down an offer to study at Carnegie Mellon University in the US to pursue his passion for drones. With early backing from gradCapital, he spent four years developing TRT, innovating on carbon composite manufacturing, aerostructures, and advanced control systems. Today, Airbound said, its drone is over three times lighter than conventional alternatives, with four times the aerodynamic efficiency, significantly reducing upfront and operating costs. 

 

“Drones are the future of deliveries and we are highly optimistic about the potential of this game-changing technology in revolutionizing logistics,” said Hemant Mohapatra, partner, 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.”