courtesy: Business Standard
TechEagle, a drone tech startup, has secured an undisclosed amount as per part of its bridge funding round co-led by Navam Capital and Inflection Point Ventures (IPV).
The round also witnessed participation from Venture Catalysts, Paytm founder Vijay Shekhar Sharma, and a clutch of high net worth individuals (HNIs).
The fresh capital will be used by the startup in expanding its operations and launch higher payload drones for mid mile and inter city deliveries.
“With the support of our investors, we aim to expand our operations across the country, enabling faster and more economical deliveries. This funding will fuel our efforts to launch higher payload drones for mid mile and inter city deliveries, further solidifying our position as a frontrunner in the drone logistics industry,” said Vikram Singh Meena, founder and CEO of the company.
The firm was founded in 2017 by Meena, who is an IIT Kanpur alumni, and Anshu Abhishek. It has been backed by BlueDart Express cofounder Tushar Jani and Gramin Healthcare founder Ajoy Khanderia, which helped TechEagle raised $500K in a seed funding round led by India Accelerator in 2021.
