New Delhi: TechEagle, a pioneer in on-demand drone delivery and Asia’s leading drone logistics company, announced today the successful completion of its Bridge Round funding, co-led by Navam Capital and Inflection Point Ventures (IPV), with participation from Paytm Founder Mr. Vijay Shekhar Sharma (via his 100% owned company), Venture Catalysts, and a diverse group of high-net-worth individuals.
This bridge round ahead of Series A represents a pivotal milestone in TechEagle’s journey towards reshaping last-mile logistics across urban and semi-urban areas. With strong backing from strategic investors and entrepreneurs, including Tushar Jani, Co-founder of BlueDart Express Limited and Ajoy Khanderia, founder of Gramin Healthcare, TechEagle is poised to accelerate its growth trajectory and expand its footprint nationwide.
Driven by the liberalization of drone regulations and performance-linked incentives provided by the government, the drone logistics industry in India is experiencing rapid growth, with TechEagle at the forefront of innovation. With a focus on Beyond beyond-visual line of Sight (BVLOS) drone operations, TechEagle specializes in autonomous drone deliveries powered by state-of-the-art Indian drones.
“Our vision at TechEagle is to revolutionize last-mile logistics with indigenous drone technology,” said Vikram Singh Meena, Founder & CEO of TechEagle. “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.”
TechEagle’s Vertiplane X3, Asia’s fastest and longest-range drone, with a 100km range in a single flight, 5KG payload capacity, and 120km/h speed, underscores the company’s commitment to innovation and efficiency. With a prestigious client roster that includes AIIMS institutes, State Governments, and the World Bank, TechEagle is well-positioned for significant industry impact and growth.
Vinay Bansal, Founder & CEO of Inflection Point Ventures, commented, “TechEagle’s innovative drones are set to revolutionize logistics accessibility in both urban and semi-urban areas. With their drones’ ability to carry substantial payloads over long distances at high speeds, they are raising the bar for everyone in the industry. IPV is committed to supporting ventures like TechEagle to witness the positive impact of cutting-edge technology in the logistics industry.”
As TechEagle embarks on its next phase of growth, the company remains steadfast in its mission to transform last-mile logistics through technological innovation and operational excellence.
About TechEagle:
Founded in 2017 by IIT Kanpur alumni Vikram Singh and Anshu Abhishek, TechEagle Innovations is a leading drone logistics company based out of Gurugram. As the sole prominent OEM tech developer and operator in India, it specializes in BVLOS drone operations, providing autonomous drone deliveries with its state-of-the-art drones. With a focus on speed, efficiency, and reliability, TechEagle is poised to revolutionize last-mile logistics across India and beyond.
