Lightspeed led a $1.7 million seed round for drone technology startup Airbound, with gradCapital and other angel investors also contributing.

In the past, the Bengaluru-based business has raised $50.1K.

With an initial focus on medical deliveries, such as regular supply transfer from health centers to testing labs, Airbound intends to use the additional funding for research and development. According to a news release, the company also wants to grow into other areas where cutting logistical costs may greatly increase revenue, such as food and grocery delivery.

Airbound is a drone delivery firm founded in 2020 by Naman Pushp with the goal of creating next-generation drones that can cut last-mile delivery costs by more than two orders of magnitude. By reducing 30 kg of hardware into 1 kilogram, the company claims to have solved significant technological hurdles and improved operational costs, scalability, and safety. The goal of its exclusive blended wing body tailsitter design, or TRT, is to revolutionize logistics.

According to Airbound, its TRT design will result in the most affordable, safest, and lightweight delivery drone, cutting delivery costs to a few cents. According to the company, its drone has four times the aerodynamic efficiency and is more than three times lighter than traditional options, which greatly reduces initial and ongoing costs.

In order to minimize weight, improve safety and dependability, and optimize efficiency, Airbound carefully inspects each vehicle system. The weight of the airframe has been lowered from six pounds to just 400 grams thanks to the introduction of novel carbon fiber production techniques.

Airbound has competition from Wing and Zipline worldwide, as well as Red Wing and Tech Eagle in India.