TechEagle, a drone delivery start-up, has raised USD 500,000 in a seed round led by India Accelerator, with participation from Vinners Group, Sitics Logistics and other marquee angel investors.
TechEagle is deep tech (drone, AI) company that is currently based out of Gurgaon, and building the end-to-end technology solution for enabling a drone logistics airline for last-mile and mid-mile deliveries.
The Founder and CEO of TechEagle, Vikram Singh Meena, commented, “Just alone in India, each year we lose millions of lives because of non-availability of critical healthcare items (blood, platelet, plasma, anti-venom, vaccines etc.) in remote, rural and semi-urban areas. Aerial routes are shorter in comparison to roads, and with no traffic jams in the sky, our drones are super-fast with reverse logistics capabilities, hence the delivery of packages would be four-times faster, twice as economical and 100% reliable. We plan to use the funding to further launch new indigenous products, scale our operations in India, and hire across functions. With TechEagle’s on-demand Drone delivery Airline, the aim is to impact a billion lives by 2030.”
Mona Singh Co-Founder of IA, stated, “India Accelerator is elated to back TechEagle, Our decision to accelerate and invest in TechEagle moves in the direction of helping companies build a global presence. We envisage that the year 2022 will be the year in which the hockey-stick upcurve in large scale usage of drones in India will happen, upon the strong foundation of the Drones Rules 2021. If the government has taken this bold move of notifying a liberal policy, then India will be the leader in this technology.”
A.M. Sikander, CEO of Sitics Logistics, said, “We are delighted to invest in TechEagle. We believe drone delivery is the next big thing in the last mile delivery. Sitics with TechEagle will be the pioneer in drone-based deliveries internationally. As the traction for drone-based deliveries increases in India and around the world, Sitics will be one of the first movers in the Logistic Industry to adopt this technology. As a digitally enabled supply chain provider, Sitics sees the move into drone deliveries as path-breaking.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.