Drone-based delivery startup Skye Air raises $9-M

Delhi NCR-based Skye Air Mobility has raised USD 9 Million in an ongoing Series B funding round led by IAN Alpha Fund, with participation from AVNM Ventures, Faad Capital, Bajaj Capital, and existing investors including Chiratae Ventures and Mount Judi Ventures, along with high-net-worth individuals. The capital will be raised in two tranches, with approximately USD 4 million expected to close shortly and the remaining over the next three to four months.Founded in 2019 by Ankit Kumar, Skye Air is a drone delivery company which provides last-mile B2B deliveries, collaborating with D2C brands, e-commerce marketplaces, and third-party logistics providers for time-definite product deliveries . The company manufactures its drones by partnering with an India-based original equipment supplier and currently operates a fleet of 33 drones.The fresh funds will be used by the company for expanding its services to additional cities including Noida, Greater Noida, Faridabad, Bengaluru, Mumbai, Pune, Hyderabad, and Kolkata, additionally the company plans to allocate capital towards technological development with a focus on physical AI.