Drone delivery startup TechEagle said it has raised $500,000 in a seed round led by India Accelerator, with participation from Vinners Group, Sitics Logistics and other marquee angel investors.
The company said it has already received approvals from the Government of India (MoCA) and the Regulators (DGCA) to conduct package delivery BVLOS (beyond the visual line of sight) flights in various parts of the country.
“Just alone in India, each year we lose millions of lives because of non-availability of critical healthcare items (blood, platelet, plasma, anti-venom, vaccines, etc.) in remote, rural and semi-urban areas.
Aerial routes are shorter in comparison to roads, and with no traffic jams in the sky, our drones are super-fast with reverse logistics capabilities, hence the delivery of packages would be four times faster, twice as economical and 100% reliable,” Vikram Singh Meena, founder and CEO of TechEagle, said.
He added, “We plan to use the funding to further launch new indigenous products, scale our operations in India, and hire across functions.”
Fleek, a subscription management platform, said it has raised $1 million in a seed funding round led by Axilor.
The round also saw participation from RTP Global Ventures, Titan Capital 9Unicorns Accelerator, Ramakant Sharma and his group.
The company said it plans to scale its user base to a six-digit number using this funding round. They also plan to build a strong team across critical functions including tech, marketing and operation as well as feature enhancement to refine the user experience.
“Through Fleek, we are not only enabling convenience to manage all your subscriptions but also a single place where you can settle subscription-related expenses. For example, If I share my Netflix with 2 other friends, I can set a recurring stream of payments through Fleek,” Arvind Eashwar, founder and CBO, Fleek, said.
Fleek is currently available on the Google play store and works on an invite-only model, enabling early access to the platform.
The team had completed beta testing of the product and is now extensively available for users to sign-up and join the waitlist.
SolRazr, a venture platform based on Solana blockchain, said it has raised $1.5 million seed round from Moonrock Capital, Ascensive Assets and Morningstar Ventures.
The round also saw participation from Genesis Block Ventures, Divergence, Genblock Capital, CMS Holdings, PANONY, Skynet Trading, Sam Kazemian of Frax Finance, Leo Cheng of CREAM, Santiago R Santos and Chris McCann took part in the round.
"Solana will power SolRazr to help projects raise capital at lightning speed, and to help investors contribute at negligible transaction costs,” said Sreekanth Kalapur, co-founder of SolRazr, said.
He added, “The platform is not only fast and inexpensive but also secure and bot-proof, providing fair and truly decentralised allocations for the SolRazr community.
SolRazr is not just a launchpad. We are building a platform with a host of developer tools to help anyone build fast on Solana.”
SolRazr said it will also have a unique allocation model for retail investors, leveraging NFTs on Solana.