Dronetech startup TechEagle raises bridge round

On-demand drone delivery and logistics firm TechEagle has raised funds from Paytm founder Vijay Shekhar Sharma, Navam Capital and Inflection Point Ventures (IPV) in its bridge round.

Earlier to this round, TechEagle raised $500K in its seed funding round led by India Accelerator in 2021.

The bridge round, which is undisclosed, also saw participation from Venture Catalysts and a group of high-net-worth individuals. 

The proceeds will be used to fuel the company's efforts to launch higher payload drones for mid-mile and inter-city deliveries, the company said in a press release.

Founded in 2017 by Vikaram Singh Meena and Anshu Abhishek, TechEagle is a drone logistics startup that enables on-demand autonomous drone delivery for its clients. With a focus on beyond visual line of sight (BVLOS) drone operations, TechEagle caters to last-mile logistics in urban and semi-urban areas.