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Sat. Jul 20th, 2024

Drone startup TechEagle gets funding from Paytm’s Vijay Shekhar Sharma’s Inflection Point Ventures and Navam Capital Bridge

By Vaseline May31,2024

TechEagle, a player in India’s fast-growing drone logistics market, has secured a new capital injection in a bridge financing round co-led by Navam Capital and Inflection Point Ventures (IPV). The round also saw the participation of notable figures such as Paytm founder Vijay Shekhar Sharma and existing investors such as Venture Catalysts.

This latest round of funding signals strong investor confidence in TechEagle’s vision to revolutionize last-mile delivery across India. With the support of industry veterans like Tushar Jani (co-founder of BlueDart Express) and Ajoy Khanderia (founder of Gramin Healthcare), the company is well positioned to scale its operations nationwide.

TechEagle specializes in drone operations Beyond Visual Line of Sight (BVLOS) and uses its fleet of Made in India drones to make autonomous deliveries. The company has already made significant progress and boasts an impressive clientele that includes prestigious institutions like AIIMS, several state governments and even the World Bank.

“Our vision at TechEagle is to revolutionize last-mile logistics with indigenous drone technology,” said Vikram Singh Meena, Founder and CEO of TechEagle. He highlights the company’s focus on expanding operations, launching drones with higher payloads and cementing its position as a leader in the Indian drone logistics landscape.

This funding comes at a crucial time for India’s drone delivery sector. Recent deregulation and government stimulus are driving rapid growth in the sector, with TechEagle poised to capitalize on the momentum.

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