Description
Problem:
- Rising cost, delay in delivery, inefficient routes, reverse logistics are some of the key inefficiencies which no one is solving for.
- Increasing demand for same day delivery is forcing sellers & logistics players to think beyond road/ vehicle logistics.
- The current solutions are not sustainable and have a direct impact on climate by increasing in CO2 levels in the atmosphere
Solution:
- Drones can radically transform logistics operations, leading to a faster, efficient & greener mode of delivery.
- Apart from providing drone based logistic solutions, SkyeAir has its own proprietary cloud-based aerial technology for traffic management which it launched in Feb 2023.
- It stitches unmanned air traffic with manned aviation airspace.
- The platform provides navigation, traffic management, connectivity and risk assessment. Platform captures more than 255+ parameters of UAV movements and stores them into its ‘Blackbox’. Signed customers include Himachal Pradesh, Uttarakhand; Long pipeline and ongoing discussions.
Market Opportunity:
Skye Air is uniquely positioned to address the market opportunity and lead the space in India with its Platform as a Service model enabling time & cost savings further helping its clients to optimize business with lower TAT (Turn-around-Time). With operating sectors as E-Commerce, E-Grocery, Food Delivery, Medicines and Diagnostics etc. Their Total Addressable Market (TAM) is $3,247 Mn, Serviceable Available Market (SAM) $1,458 Mn and Serviceable Obtainable Market $660 Mn. As per the Ola Mobility Institute white paper on Drones, the global Drone market stands at 26.3 B for the year 2021 and is expected to increase to 41.3 B by 2026. The Indian drone market is at 1.21 B as of 2021 and is expected to Increase to 7 B by 2026.
- 5X Growth in number of drones – 24 Drones
- 9.3X Growth in number of flights – 80 per month to 825 per month
- 72X Growth in number of kms in a month – 309 km to 22,679 km per month
- They have completed over 2,000+ flights and have an MRR of INR 35 L as of May 2023
- The current round is led by Flipkart Ventures and all the existing co-investors are re-investing in the round including Chiratae Ventures.
- Ankit Kumar (Strategy & Sales Function) – Mechanical Engineer, Ex- Mahindra, more than 10 years of experience, built consulting and EV business, helped 50+ companies to grow business in India, Drone Stakeholder Committee Member, Ministry of Civil Aviation, Angel Investor in 5 startups
- Chandra Prakash (Finance Functions) – Chartered Accountant with more than 20 years of exp. in CFO functions, Strategy, Business setting up and scaling with large global IT, manufacturing, and Consulting Organizations
- Swapnik Jakkampudi (Technology Functions) – 3 years of experience as an engineer in Smart Cities- traffic condors
- Shrikant Sarda (Business Growth & Partnerships Functions) – MBA from AMC Bangalore, 26 years of experience in sales, marketing and business development.
| Discount | Percentage (%) |
| Upto 6 months | 0% |
| 6 months – 12 months | 10% |
| 12 months – 18 months | 25% |
| Post 18 months | $6.75 Mn (Last Round Post-money Valuation) |
