Airbound raises $37M to develop drone logistics network competing with trucks

Airbound, an Indian startup specializing in autonomous drones, has secured $37 million in Series A funding led by Greenoaks, with participation from DoorDash, Lachy Groom, Lightspeed, and Humba Ventures. This brings its total raised to nearly $50 million since its 2023 founding. The company aims to make aerial freight as cost-effective as road transport by redesigning drones to carry more payload than their own weight. Its TRT drone model, weighing 3.3 pounds, currently carries 2.2 pounds, while a newer version will double both metrics. The rocket-like tail-sitter design enables vertical takeoffs and landings, avoiding runway dependency. Airbound has completed over 13,000 autonomous flights in Bengaluru and Guntur, including medical sample deliveries for Narayana Health, reducing transport times from hours to minutes. The startup plans a three-city drone network in Andhra Pradesh, targeting 10,000 daily flights for retail and healthcare. However, regulatory hurdles like BVLOS certification and the lack of immediate revenue remain significant challenges despite its 150-person team. The company emphasizes long-term scalability over short-term profits, positioning itself as an infrastructure provider rather than a delivery operator.