Airbound secures $37 million to advance affordable aerial logistics.

Airbound has secured $37 million in a Series A funding round led by Greenoaks, with contributions from DoorDash and others, to advance aircraft designed for lower-cost air transport. The startup aims to revolutionize aviation economics by increasing payload efficiency and reducing delivery costs. Having completed over 13,000 autonomous flights, Airbound plans to scale operations in Andhra Pradesh to 10,000 flights daily. The company envisions a future where autonomous drones can replace truck transport and make air delivery economically viable, targeting costs as low as five cents per delivery.