Airbound, a drone technology startup based in India, has raised $8.65 million in seed funding, led by Lachy Groom, co-founder of Physical Intelligence. This investment comes as the company kicks off a pilot drone-delivery programme with a private hospital, while also aiming to achieve one-cent deliveries through its innovative, ultra-light aircraft.

The round also attracted participation from Humba Ventures, Airbound’s existing investor Lightspeed Venture Partners, and senior executives from companies such as Tesla, SpaceX, and Anduril.

Founded in 2020 by Naman Pushp, who was just 15 years old at the time, Airbound has designed a drone with a unique tail-sitter configuration. This enables the drone to launch vertically, like a rocket, using a lightweight carbon fibre frame. The aircraft is designed to deliver packages at a fraction of the cost of conventional delivery methods, with potential savings of up to 20 times less than traditional options and much more affordable than current drone-based delivery systems. Airbound’s drone departs from the typical quadcopter design by incorporating a blended-wing-body with two propellers, allowing it to take off vertically and then transition to horizontal flight.

The company is targeting one-cent deliveries by rethinking the way energy is consumed in transporting goods, according to Pushp, the company’s CEO.

Currently, electric two-wheelers are commonly used to deliver small parcels of under 3 kilograms in India. However, these vehicles themselves weigh around 150 kilograms and incur an energy cost of approximately ₹2 (around $0.02) per kilometre. Airbound aims to reduce this cost dramatically by using its drone, the TRT, which is specifically designed for small payloads. By eliminating the need for a human driver, the TRT reduces the total transport weight by up to 30 times. Pushp explains that this reduction results in a 20-fold decrease in energy cost per kilometre, making one-cent deliveries a realistic goal.

“There is a huge gap between where drone technology is today and where it could be,” Pushp said. “For example, currently, a drone needs to weigh four kilograms to carry a one-kilogram payload — which is incredibly inefficient. Range is also a poor metric for drones at the moment, and there's a lack of focus on aerodynamic efficiency.”

The design of Airbound’s drone, with its rocket-like, blended-wing configuration, eliminates the need for additional propellers and heavy moving parts, offering a more aerodynamically efficient alternative to the conventional quadcopter. This design allows for better lift-to-drag ratios, reducing the thrust required for flight and enhancing overall energy efficiency.

The first version of Airbound’s drone weighs just 1.5 kilograms and can carry a payload of up to 1 kilogram. The startup’s upcoming second version is set to handle a 3-kilogram payload while keeping its weight at a mere 1.2 kilograms.