Skye Air, a pioneering drone delivery startup, has announced the successful closure of its Series A funding round, securing $4 million from a consortium of prominent venture capital funds.
The investment round was led by Mount Judi Ventures and Chiratae Ventures, with participation from Venture Catalyst, Windrose Capital, Tremis Capital, Faad Capital, Misfits Capital, Hyderabad Angels, Soonicorn Ventures, along with other existing investors, family offices, and angels.
Founded in 2019 by Ankit Kumar and Chandra Prakash, Skye Air specializes in providing drone-based logistics solutions to various industries, including healthcare, e-commerce, quick-commerce, and agri-commodity sectors. The company has developed an innovative unmanned traffic management system to efficiently manage drone traffic, enhancing the safety and reliability of its operations.
Ankit Kumar expressed his enthusiasm about the funding, emphasizing that the fresh capital infusion will facilitate the company’s expansion of its last-mile delivery network across Gurugram and other cities.
This expansion is particularly geared towards enhancing healthcare, e-commerce, and quick-commerce deliveries, thereby addressing critical logistical challenges and improving service efficiency.
The support and guidance received from regulatory bodies such as the Ministry of Civil Aviation, DGCA, AAI, District Administrations, and other authorities have been instrumental in enabling Skye Air to develop innovative drone delivery solutions with the potential to positively impact millions of lives, Kumar noted.
Apoorva Ranjan Sharma, Founder and Managing Director at Venture Catalysts, underscored the transformative impact of drone-based last-mile deliveries on India’s logistics landscape, emphasizing the need for efficient and innovative solutions to navigate the country’s diverse terrain. The implementation of favorable government policies, including the ban on drone imports to promote local production and stringent certification processes, has catalyzed significant investments in the drone sector, paving the way for its rapid growth trajectory.