TechEagle secures bridge round led by Navam Capital, IPV

TechEagle announced the completion of its Bridge Round funding, co-led by Navam Capital and Inflection Point Ventures (IPV), with participation from Paytm Founder, Vijay Shekhar Sharma (via his 100 percent owned company), Venture Catalysts, and a diverse group of high-net-worth individuals.

“This bridge round ahead of Series A represents a pivotal milestone in TechEagle's journey towards reshaping last-mile logistics across urban and semi-urban areas. With strong backing from strategic investors and entrepreneurs, including Tushar Jani, co-founder of BlueDart Express and Ajoy Khanderia, founder of Gramin Healthcare, TechEagle is poised to accelerate its growth trajectory and expand its footprint nationwide,” reads the release.

Driven by the liberalization of drone regulations and performance-linked incentives provided by the government, the drone logistics industry in India is experiencing rapid growth. With a focus on Beyond Visual Line of Sight (BVLOS) drone operations, TechEagle specializes in autonomous drone deliveries powered by Made in India drones.

"Our vision at TechEagle is to revolutionize last-mile logistics with indigenous drone technology," said Vikram Singh Meena, Founder & CEO of TechEagle. "With the support of our investors, we aim to expand our operations across the country, enabling faster and more economical deliveries. This funding will fuel our efforts to launch higher payload drones for mid-mile and inter-city deliveries, further solidifying our position as a frontrunner in the drone logistics industry."

Vinay Bansal, Founder & CEO of Inflection Point Ventures, commented, "TechEagle's innovative drones are set to revolutionize logistics accessibility in both urban and semi-urban areas. With their drones' ability to carry substantial payloads over long distances at high speeds, they are raising the bar for everyone in the industry. IPV is committed to supporting ventures like TechEagle to witness the positive impact of cutting-edge technology in the logistics industry."

It also reads, “TechEagle's Vertiplane X3, Asia's fastest and longest-range drone, with a 100km range in a single flight, 5KG payload capacity, and 120km/h speed, underscores the company's commitment to innovation and efficiency. With a prestigious client roster that includes AIIMS institutes, State Governments, and the World Bank, TechEagle is well-positioned for significant industry impact and growth.”