TechEagle Secures Funding from Paytm Founder and Other Investors

On-demand drone delivery and logistics firm TechEagle has successfully completed a funding round with notable participation from Paytm founder Vijay Shekhar Sharma, Navam Capital, and Inflection Point Ventures (IPV). This bridge funding round, held ahead of the company’s Series A, also saw investments from Venture Catalysts and a variety of high-net-worth individuals. However, the company has not disclosed the exact amount of capital raised.

Vijay Shekhar Sharma participated in the funding through his wholly-owned firm, VSS Investco. The infusion of fresh capital is aimed at supporting TechEagle’s development and launch of higher payload drones, which are intended for mid-mile and inter-city deliveries.

“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,” said Vikram Singh Meena, Founder & CEO of TechEagle.

The company has garnered strong backing from strategic investors and entrepreneurs, including Tushar Jani, co-founder of BlueDart Express Limited, and Ajoy Khanderia, founder of Gramin Healthcare. This support underscores confidence in TechEagle’s potential to revolutionize logistics through innovative drone technology.

“TechEagle’s innovative drones are set to revolutionise 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,” said Vinay Bansal, Founder & CEO of Inflection Point Ventures.