TechEagle, a drone delivery startup, has raised $500k in its seed round led by India Accelerator. Vinners Group, Sitics Logistics and other marquee angel investors have also participated in the round.
According to the Gurugram-based startup, the funds will be used to launch new products, ramp up its operations in India, and hire new talent across functions.
Led by Vikram Singh Meena, TechEagle provides end-to-end technology solutions for enabling a drone logistics airline for last-mile and mid-mile deliveries.
The platform claims that its drones are fast in aerial routes with reverse capabilities which makes delivery of packages four-fold faster, twice as economical and reliable.
Late last month, the Indian government had announced its much-awaited new liberalised drone rules, marking the coming of age for an industry that has for long struggled under unclear, and somewhat unimplementable regulatory norms.