Drone delivery startup Skye Air announced on Wednesday that it has raised $4 million in a Series A funding round. The investment came from venture capital firms Mount Judi Ventures, Chiratae Ventures, Venture Catalyst, Windrose Capital, and Tremis Capital, along with Faad Capital, Misfits Capital, Hyderabad Angels, Soonicorn Ventures, and other existing investors, family offices, and angel investors.
Ankit Kumar, Founder & CEO of Skye Air, stated that the new funding would enable the company to expand its last-mile delivery network across Gurugram and other cities, targeting healthcare, e-commerce, and quick-commerce sectors.
Skye Air, established in 2019 by Ankit Kumar and Chandra Prakash, provides drone-based logistics solutions to industries including healthcare, e-commerce, quick-commerce, and agri-commodities. The company has also developed an unmanned traffic management system to oversee drone traffic.
“We are encouraged by the support and guidance from the Ministry of Civil Aviation, DGCA, AAI, District Administrations, and other authorities in developing drone delivery solutions that can significantly impact millions of lives,” Kumar added.
A report by EY and FICCI from September 2022 highlighted that the drone and its components industry could enhance India’s manufacturing potential to approximately $23 billion by 2030. The report emphasized the need for significant steps to “create robust demand, boost manufacturing, attract investments, and facilitate exports to make India the global hub for drones by 2030, with the most competitive and innovative manufacturing capabilities.”
Apoorva Ranjan Sharma, Founder and Managing Director at Venture Catalysts, commented, “India’s vast and diverse terrain requires an efficient and innovative logistics system, and drone-based last-mile deliveries are leading this transformation. The government’s policies on the drone ecosystem, such as banning drone imports to promote local production and implementing stringent drone certification processes to ensure safety and quality, have spurred a rise in drone startups and significant investments in this advanced logistics solution.”
Sharma noted that India’s drone industry is projected to grow from Rs 2,900 crore in 2020 to Rs 81,600 crore by 2025.
