TechEagle, an On-demand drone delivery and logistics firm has secured funds from Paytm founder Vijay Shekhar Sharma, Navam Capital and Inflection Point Ventures (IPV) in its bridge funding round.

Earlier to this round, the firm secured $500K in its seed funding round backed by India Accelerator in 2021.

As per the startup, the funds will be used to fuel the company’s efforts to launch higher payload drones for mid-mile and inter-city deliveries, the company said in a press release.

Techeagle | On-Demand Drone Delivery and Logistics Firm

Founded by Vikaram Singh Meena and Anshu Abhishek in the year 2017, TechEagle is a drone logistics startup that enables on-demand autonomous drone delivery for its clients. With a focus on beyond visual line of sight (BVLOS) drone operations, TechEagle caters to last-mile logistics in urban and semi-urban areas. 

Its flagship product is Vertiplane X3, which claims to have a 100 km single-flight range, a payload capacity of 5 kg, and a speed of up to 120 km/hr. TechEagle claims to have catered to names such as AIIMS, multiple state governments, Swiggy, Vodafone-Idea (Vi), and the World Bank so far.

Speaking about the development, Vikram Singh Meena, Founder and CEO of TechEagle, said,

“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,”.

Follow us and connect with us on Instagram, Facebook, Twitter, and LinkedIn.

Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.