Skye Air Mobility raises $1.7 million to ramp up drone deliveries

The round also saw participation from Lead Angels, O2 Angels, Agility Ventures, Lets Venture and several investors including Rajeev Chitrabhanu, Ankit Nagori, Varun Alagh, Gautam Badalia, Ayush Lohia and others, Skye Air Mobility said.

The investment will be used to bring greater efficiency to different verticals by allowing faster deliveries, reduce carbon emission, reduce cost, and increase accessibility to locations that are difficult to reach by road or where there is no connectivity at all, the company said.

Skye Air Mobility is currently operating in eight cities across the country and plans to expand to 16 cities in the next 24 months.

For the drone industry, 2021 was a promising year with the introduction of new drone rules and PLI (Production Linked Incentive) scheme and the Indian drone delivery industry potential stands at $18 billion, in first and last mile segments, the company added.

“We are excited to partner with Skye Air Mobility to disrupt the first & last mile logistics in an efficient and climate-friendly manner, beginning with the Healthcare domain and expanding into other sectors with its logistics and SaaS solutions” Mandeep Julka, Vice President – Investments, Chiratae Ventures said.

“Drone delivery is increasingly gaining ground across logistics providers to tackle inefficiencies in last mile delivery and is expected to grow at more than 50% CAGR (compounded annual growth rate) over the next six years” said Dhianu Das, Founder, Agility Ventures.

Skye Air has bases in Hyderabad and Gurgaon and focuses on logistics solutions for healthcare, ecommerce, quick commerce, agri-commodity and other industries. The company’s network includes companies like Flipkart, Dunzo, Swiggy, Redcliffe Labs, Aster Healthcare, Blue Dart, Cure Foods among others.