Tech Desk: Indian startup Airbound has successfully raised $37 million in fresh capital, signaling a bold ambition to revolutionize logistics by making air freight as cost-effective as road transport. This Series A funding, led by Greenoaks with participation from DoorDash and Lightspeed, boosts the three-year-old company’s total funding to nearly $50 million, highlighting investor confidence in its groundbreaking approach to Airbound drone logistics.

At the core of Airbound’s strategy is a redesigned vertical-flight drone, the TRT, engineered to weigh less than its cargo—a significant departure from conventional aircraft. This “rocket-like tail-sitter” design allows for vertical takeoff and landing without runways, crucial for widespread deployment. Currently, a TRT drone weighing 3.3 pounds can carry 2.2 pounds, with a larger version soon to carry up to 11 pounds.

Airbound is already demonstrating its capabilities, having completed over 13,000 autonomous flights, including critical diagnostic sample deliveries for Narayana Health in India. These drones cut transport times from hours to mere minutes. The company plans an ambitious three-city drone network in Andhra Pradesh, targeting 10,000 daily flights for retail, e-commerce, and healthcare.

While Airbound aims to be the “Boeing” of drone logistics, providing aircraft for other networks, its primary challenge remains regulatory hurdles, particularly securing approvals for beyond visual line of sight (BVLOS) operations. Despite being largely pre-revenue with 150 employees, CEO Naman Pushp emphasizes a long-term vision to become a global giant in Airbound drone logistics, prioritizing scale over immediate profits.