Airbound, a three-year-old autonomous drone startup, has secured $37 million to develop aircraft designed to compete with the cost of road-based trucking.

Airbound, an Indian startup specializing in autonomous drone technology, has raised $37 million in a Series A funding round led by Greenoaks. The company, which aims to make aerial delivery cost-competitive with ground trucking, has now raised nearly $50 million since its founding in 2023. The new capital will support the development of its vertical-takeoff drones, which are designed to weigh less than the cargo they transport.

Drone Design and Technology

Airbound utilizes a tail-sitter, rocket-like design that allows its drones to take off and land vertically, eliminating the need for runways. Founder and CEO Naman Pushp stated that the current TRT drone weighs 3.3 pounds and carries a 2.2-pound payload. A next-generation version currently in development is expected to weigh 6.6 pounds with a capacity of up to 11 pounds. The company manufactures its aircraft in a 43,000-square-foot facility in Bengaluru.

Operations and Partnerships

The startup has completed over 13,000 autonomous flights in Bengaluru and Guntur, including more than 1,000 flights for Narayana Health to transport diagnostic samples. Airbound is also working with the Andhra Pradesh government to establish a delivery network for retail, e-commerce, and healthcare, with an eventual target of 10,000 flights per day. While the startup has over 150 employees, it remains largely pre-revenue as it focuses on long-term scaling and regulatory approvals.