Latest News | Drone Logistics Solution Provider Skye Air Secures USD 4 Mn Funding

New Delhi, Jun 17 (PTI) Skye Air, a drone logistics solution provider, on Monday said it has secured USD 4 million (about Rs 34 crore) funding, which will be used to expand the company's operations across Gurugram and other cities for healthcare, and quick-commerce deliveries.

The Series A funding was achieved with backing from Mount Judi Ventures, Chiratae Ventures, Venture Catalyst, Windrose Capital, and Tremis Capital.

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Faad Capital, Misfits Capital, Hyderabad Angels, Soonicorn Ventures and other existing investors, family offices and angels also participated in the funding round.

"The fresh capital will help the company expand its last-mile network across Gurugram and other cities for healthcare, e-commerce, and quick-commerce deliveries," said Ankit Kumar, Founder & CEO of Skye Air.

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He further said that with the Modi 3.0 government at the centre stage, the company envisages a plethora of growth coming in the Indian drone sector, which will make Bharat a global drone hub by 2030.

Maple Capital Advisors were the exclusive financial advisors to the company for the transaction. LexStart Partners were the legal counsel for the company.

Skye Air said it is also the creator of Skye UTM, an advanced Unmanned Traffic Management system, which manages drone traffic, ensures safety, and facilitates efficient communication between drones and air traffic controls.

Headquartered at Delhi-NCR, Skye Air is a SaaS-based autonomous logistics solution provider, which focuses on integrating drone deliveries as a mainstream logistics solution for various industries, including healthcare, e-commerce, quick-commerce, and agri- commodity.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)