Airbound Raises $1.7M for Drone Tech, VoloFin Secures $50M for SME Trade Finance

Airbound Raises $1.7M for Drone Delivery, VoloFin Secures $50M for SME Financing

Airbound and VoloFin have secured significant funding to advance innovation in drone delivery and supply chain fintech, targeting key global markets.

Airbound Secures $1.7M in Seed Capital

Airbound, a Bengaluru-based drone technology startup, raised $1.7 million in a seed round led by Lightspeed, with support from gradCapital and other angel investors. The funds will be used to:

• Enhance R&D efforts, initially focusing on medical deliveries.
• Expand into food and grocery delivery to reduce logistics costs.

Founded in 2020 by Naman Pushp, Airbound aims to revolutionize last-mile delivery using its proprietary TRT design. This innovative design reduces delivery costs and improves safety by making drones lighter and more efficient. Key features include:

• A 30:1 weight reduction, turning 30 kg of hardware into just 1 kg.
• Aerodynamic efficiency 4x higher than conventional drones.
• A carbon fiber airframe weighing only 400 grams.

Airbound's competitors include Red Wing and Tech Eagle in India, and Wing and Zipline globally.

VoloFin Secures $50M for SME Trade Finance

VoloFin, a Singapore-based supply chain financing startup, raised a $50 million funding line from a major US bank. The company plans to expand this limit to $150 million over the next two to three years. The funds will enable VoloFin to:

• Provide Indian exporters with improved trade finance access.
• Support SMEs with lending solutions and supply chain management tools.

Founded by Roshan Shah, VoloFin has a presence in India, Singapore, and the US. It collaborates with lenders globally, including India Exim Bank, to bridge the trade finance gap for SMEs. Shah emphasized the importance of this milestone in empowering exporters, describing them as the backbone of the economy.

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