Skye Air Mobility, a pioneering drone delivery startup, has successfully raised $4 million (approximately INR 33.4 crores) in its Series A funding round. This funding round was led by Mount Judi Ventures, with significant participation from Chiratae Ventures, Venture Catalyst, Windrose Capital, Tremis Capital, and several other investors including Faad Capital, Misfits Capital, Hyderabad Angels, and Soonicorn Ventures.
Company Background and Objectives
Founded in 2019 by Ankit Kumar and Chandra Prakash, Skye Air Mobility specializes in drone-based logistics solutions across various sectors such as healthcare, e-commerce, quick commerce, and agriculture. The company is also known for its Skye UTM, an advanced unmanned traffic management system designed to facilitate safe and efficient drone operations by ensuring effective communication between drones and air traffic control.
Utilization of Funds
The newly acquired capital will primarily be used for product development, infrastructure expansion, and increasing the workforce to approximately 200 employees over the next 18 months. This expansion is aimed at strengthening Skye Air’s last-mile delivery infrastructure, particularly in healthcare and other critical sectors.
Industry Impact and Growth
Skye Air has been at the forefront of integrating drone deliveries into mainstream logistics, which is expected to revolutionize last-mile logistics by reducing turnaround times and enhancing efficiency. The drone industry in India is poised for significant growth, driven by supportive government policies and the rising demand for efficient logistics solutions. The market is projected to grow from INR 2,900 crores in 2020 to INR 81,600 crores by 2025, according to industry reports.
Future Prospects
With the fresh funding, Skye Air aims to expand its operations across Gurugram and other urban centers, focusing on delivering critical supplies such as healthcare products and e-commerce goods efficiently. The company’s vision aligns with the growing trend of using drones for last-mile delivery, a sector that is rapidly evolving due to technological advancements and increasing acceptance of drone-based solutions.
