India’s Airbound bags $8.65M to build rocket-like drones for one-cent deliveries

Airbound, an Indian startup, has secured an $8.65 million seed funding round backed by Lachy Groom, a prominent investor. The company aims to develop rocket-like drones capable of delivering packages at a cost of just one cent per delivery. Airbound's innovative approach involves using a novel propulsion system that resembles a rocket, allowing their drones to achieve high speeds and cover long distances efficiently. The startup plans to launch a pilot program in Bengaluru, India, to test the feasibility of their one-cent delivery model. The funding will be utilized to further refine the drone technology, expand the team, and conduct extensive testing to ensure the safety and reliability of Airbound's delivery services. The company's goal is to revolutionize the logistics industry by providing an affordable and sustainable last-mile delivery solution, particularly in areas with limited infrastructure. This investment highlights the growing interest in innovative drone technology and its potential to transform the delivery landscape, especially in emerging markets like India, where cost-effective transportation solutions are in high demand.