TechEagle Secures Bridge Funding to Expand Drone Logistics in Healthcare

The new funding, raised ahead of the company's Series A round, is critical for TechEagle's efforts to enhance last-mile logistics in urban and semi-urban areas. 

Gurugram-based TechEagle, a startup specializing in on-demand drone delivery service, completed its Bridge Round funding with support from Navam Capital, Inflection Point Ventures (IPV), VSS Investco, Venture Catalysts, and several high-net-worth individuals.

The new funding, raised ahead of the company's Series A round, is critical for TechEagle's efforts to enhance last-mile logistics in urban and semi-urban areas. Key strategic investors include Tushar Jani, cofounder of BlueDart Express, and Ajoy Khanderia, founder of Gramin Healthcare.

Sharing insights, Vikram Singh Meena, founder and CEO of TechEagle, said, "With the support of our investors, we aim to grow our operations and build an aerial network across the country, enabling faster and more economical deliveries. This funding will bolster our efforts to launch higher payload drones for mid-mile and inter-city deliveries, further establishing our leadership in the drone logistics industry.”

He further added that India's drone logistics sector is growing rapidly, supported by the government's performance-linked incentives and relaxed drone regulations. 

TechEagle uses its autonomous, locally manufactured drones to focus on Beyond Visual Line of Sight (BVLOS) operations.

TechEagle's Drones 

TechEagle's flagship product, the Vertiplane X3, is noted for its long-range and high-speed capabilities. It boasts a 100km range, 5KG payload capacity, and speeds of up to 120km/h, making it one of the most advanced drones in Asia. 

The startup also collaborated with AIIMS institutes, various state governments, and the World Bank.

Commenting on the same, Vinay Bansal, founder and CEO of Inflection Point Ventures, said, "TechEagle's innovative drones are set to revolutionize logistics accessibility in 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."

Impact on the Healthcare Sector

In recent developments, TechEagle secured a tender with AIIMS Guwahati for medical deliveries. The deployment of Vertiplane X3 drones, known for their long-range capabilities, highlighted TechEagle’s operational expertise and technological advantages during the tender process.

The startup also completed a pilot run covering a 104 km aerial corridor, marking the longest flight in India for a medical delivery initiative. This pilot run showcased the potential of drone technology in enhancing healthcare logistics.

In a similar initiative in December 2022, TechEagle launched a drone delivery network in Meghalaya in partnership with the Government of Meghalaya and The World Bank. This project aimed at improving medical logistics in remote areas, setting a precedent for future initiatives.

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.