Dronetech startup Airbound raises $1.7 million to make drone delivery economically viable

Homegrown drone technology startup Airbound has raised $1.7 million in a Seed funding round led by Lightspeed, with participation from gradCapital as well as prominent angel investors.

With its proprietary blended wing body tailsitter design, called TRT, the startup aims to transform logistics, reducing delivery costs by two orders of magnitude compared to traditional options.

Purpose of fundraising

With this funding, Airbound will deploy its R&D efforts to initially focus on medical deliveries, particularly routine supply deliveries such as transporting blood samples from health centers to testing labs.

Once proven effective, the startup plans to expand into other applications including food and grocery delivery, where reducing logistics costs can significantly enhance profitability. Notably, its drones have already spanned thousands of kilometers.

What does Airbound do?

Airbound said that the drone delivery industry has faced challenges due to regulatory complexity and high per-mile costs, which have prevented drones from becoming the default solution for last-mile logistics.

The startup claims that its TRT design will be the lightest, safest, and most economically viable delivery drone, reducing the cost of deliveries to just a few cents.

Founder Naman Pushp, who began this journey as a high school project, spent four years developing the drone. Pushp innovated in carbon composite manufacturing and aerostructures, creating a drone that is over three times lighter than conventional alternatives, with four times the aerodynamic efficiency, significantly reducing upfront and operating costs.

Leadership comments

“Airbound is proud to have 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 scrutinized 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," Pushp added.

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