PE-VC Fund Investments
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.
Between May-22 and Jun-24, Skye Air had attracted about USD 6.9 M from Chiratae Ventures, Info Edge, SiriusOne Capital, Mount Judi Ventures, Tremis Capital, Windrose Capital, ZNL Ventures, Others.For FY24, Skye Air had reported about INR 1.6 Cr in Operating Income and about INR 13.1Cr in Net Loss.
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