“With the Modi 3.0 Government at the centre stage, we envisage a plethora of growth coming in the Indian drone sector, which will make Bharat a Global Drone Hub by 2030.” Ankit Kumar, Founder & CEO of Skye Air
Skye Air, the leading SaaS-based autonomous logistics solution provider, is thrilled to announce the successful closure of its Series A fundraising round, amassing ~US$ 4 million. This milestone was achieved with robust backing from Mount Judi Ventures, Chiratae Ventures, Venture Catalyst, Windrose Capital, and Tremis Capital. The round also saw enthusiastic participation from Faad Capital, Misfits Capital, Hyderabad Angels, Soonicorn Ventures and other existing investors, family offices and angels.
The drone industry has witnessed unprecedented growth over the past few years, driven significantly by progressive policy frameworks championed by the Government of India. Positioned at the forefront of drone delivery technology, Skye Air has garnered multiple accolades both in India and internationally for its innovative contributions to the sector including but not limited to, Forbes Select 200, Drone Startup of the Year by Entrepreneur India, Outstanding Startup Award by PHDCCI.
Founded by Ankit Kumar and Chandra Prakash, Skye Air is pioneering faster, more efficient, and sustainable last-mile logistics solutions across healthcare, e-commerce, quick-commerce, and food industries.
Commenting on this significant development, Ankit Kumar, Founder & CEO of Skye Air, said, “We are excited to embark on a growth journey along with our existing and new partners who believe in our vision. This is a testament to our amazing team and the relentless hard work they put in every day to create real change in making last-mile logistics faster and more efficient. 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.”
He further added “With the Modi 3.0 Government at the centre stage, we envisage a plethora of growth coming in the Indian drone sector, which will make Bharat a Global Drone Hub by 2030. We are enthused by the support and guidance, we have received from the Ministry of Civil Aviation, DGCA, AAI, District Administrations and other authorities towards building drone delivery solutions which can impact millions of lives across healthcare, agriculture, ecommerce and other industries.”
Ali Shariff, Partner at Mount Judi Ventures added, “Skye Air commands the first-mover advantage in the hugely disruptive drone delivery industry. It is revolutionising the last-mile logistics space in India through their end-to-end autonomous navigation capabilities. We eagerly look forward to Skye Air’s continued growth in the field of commercial drone logistics and are excited to partner with its visionary founders.”
Dr Apoorva Ranjan Sharma, Founder & Managing Director at Venture Catalysts added, “India’s vast and diverse terrain demands for an efficient and innovative logistics system, and drone-based last-mile deliveries are at the forefront of this revolution. The current government’s forward-thinking policies governing the drone or UAV ecosystem such as a ban on the import of drones to encourage local production and stringent drone certification processes to ensure safety and quality, has led to a surge in drone startups and significant investments in this futuristic logistics solution. With India’s drone industry projected to soar from ₹2,900 crore in 2020 to an impressive ₹81,600 crore by 2025, we at Venture Catalysts are extremely optimistic about the sector’s potential. Our investment in Skye Air aligns with our strategy of backing sunrise sectors. We are confident that Skye Air’s SaaS-based logistics services will profoundly transform the logistics landscape over the next 2-3 years.”
Maple Capital Advisors acted as an exclusive financial advisor to the company for the Transaction. LexStart Partners were the legal counsel for the company.
Skye Air is dedicated to carrying forward the vision of the Honourable Prime Minister, aiming to make Bharat a global drone hub by 2030. This initiative aligns with the broader national goal of leveraging technology to drive economic growth and improve accessibility across the country.
