On demand drone provider and logistics startup TechEagle has secured an undisclosed amount of fund in a funding round. The round witnessed the participation of Paytm founder and CEO Vijay Shekhar Sharma, Navam Capital, and Inflection Point Ventures (IPV), which is a Guguram-based angel investment firm.

Paytm founder Sharma participated through his wholly-owned firm, VSS Investco. Venture Catalysts and a diverse group of high-net-worth individuals were also present in the round.

The startup has decided to utilize this fund to accelerate their efforts in launching higher-payload drones designed for mid-mile and inter-city deliveries.

The Founder and CEO of TechEagle, Vikram Singh Meena, quoted, "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.”

The startup was founded by 2017 by Vikram Singh (CEO) and Anshu Abhishek (COO).  They provide last-mile delivery of goods pertaining to Healthcare products, Food, Parcels, etc. via drones.

Expressing the company’s vision, Vikram Singh Meena explained, "With the support of our investors, we aim to expand our operations across the country, enabling faster and more economical deliveries.”

Few of the company’s notable innovations are 'Vertiplane X3,' has a 100 km range per flight, a 5 kg payload capacity, and a speed of 120 km/h.

It claimed that they have clients from prestigious institutions such as AIIMS institutes, various state governments, and the World Bank.

Talking about development, the Founder and CEO of Inflection Point Ventures, Vinay Bansal said, "TechEagle's innovative drones are set to revolutionize logistics accessibility in both urban and semi-urban areas. IPV is committed to supporting ventures like TechEagle to witness the positive impact of technology in the logistics industry."

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