Drone Startup Airbound Secures $37 Million in Series A Funding

Bengaluru-based startup Airbound has raised $37 million in a Series A round led by Greenoaks, bringing its total funding to nearly $50 million.

The company, which has completed over 13,000 autonomous flights, aims to achieve cost parity with trucking by using vertical-flight drones that weigh less than their payload.

Airbound has signed an agreement with the Andhra Pradesh government to develop a delivery network with an eventual target of 10,000 flights per day.