Airbound Secures $37 Mn In Funding Led By Greenoaks

Aerospace company Airbound on Tuesday said it has secured $37 million in Series A funding, led by Greenoaks and supported by new and existing investors, including DoorDash, Lachy Groom, Lightspeed, and Humba Ventures.

The latest fundraise will help the company accelerate its engineering and commercial-scale manufacturing and go-to-market initiatives, Airbound said in a statement.

The Bengaluru-based firm, engaged in designing and manufacturing transport aircraft, has so far raised around $50 million since 2023.

The company also announced a new commercial agreement with Andhra Pradesh. Together, these milestones mark the next phase of adoption for Airbound's breakthrough aircraft.

Under its latest pact, Airbound said it will build a drone delivery network to connect three cities and enable faster and low-cost transport.

The company will scale up to 10,000 daily flights, supporting retail, e-commerce, and healthcare deliveries across the region, it said, adding that the programme will serve as the playbook for aerial deliveries nationwide.

Designed, manufactured, and deployed in India, Airbound's aircraft are built and tested in one of the world's most demanding operating environments, according to the company.

It has already completed more than 1,000 autonomous flights with zero mission failures in partnership with Narayana Health, transporting diagnostic samples between healthcare facilities and reducing delivery times from hours to minutes.