Mumbai, March 11 Drone logistics solution provider Skye Air Mobility announced on Wednesday raising a total of USD 9 million in a Series B funding round to fuel hyperlocal drone delivery expansion.
The round, structured in two parts – Series B1 of USD 4 million and Series B2 of USD 5 million – was led by IAN Group's second venture fund, IAN Alpha Fund, and saw participation from AVNM Ventures, Faad Capital, Bajaj Capital, and other prominent investors, the company said.
The Indian drone market is experiencing explosive growth, valued at USD 940.6 million in 2024 and projected to reach USD 3.23 billion by 2030, registering a CAGR of 21.51 per cent, Skye Air Mobility said.
The delivery drone segment is growing even faster, with India leading major global markets at a 50.4 per cent CAGR, ahead of China (42.9 per cent), Japan (46.1 per cent), and the US (39.4 per cent), it said.
"This fundraising marks our transition from proving the model to scaling the infrastructure. The capital will be used to deepen our Physical AI stack, connect autonomous drones, intelligent airspace management through Skye UTM, and AI-powered ground robotics into a single seamless delivery chain," said Ankit Kumar, Founder & CEO, Skye Air Mobility.
The company serves a portfolio of marquee enterprise customers, including Blue Dart Express, Shiprocket, Flipkart, Frido, Tata 1MG, and Zepto.
With the new funding, Skye Air said it plans to significantly expand operations beyond Delhi-NCR into key metropolitan markets, including Bengaluru, Mumbai, Pune, Hyderabad, and Kolkata.