We Founder Circle, a founder-based early-stage start-up investor has announced it has led a Seed round worth $ 325K (Rs 2.5 cr) in TSAW (Technology in Space and Aero Works), a drone logistics service provider. The startup comes with a vision to recreate the logistics ecosystem by introducing a new and faster mode of transportation i.e., drones, it said in a press statement.
The round witnessed participation from an array of investors including – Kartik Hajela (Founder Log9 materials), Soonicorn Ventures, early stage startup accelerator Pedal Start and strategic investment by Zypp Electric. The brand was bootstrapped so far, and this is the first fundraise.
TSAW will exhaust a major part of the raised investment in team building and fuelling operations. The rest of the fund will be equally divided in marketing and R&D.
Kishan Tiwari- Founder, TSAW said, “We are working towards empowering the logistics chain with drone technology. Though a lot of attempts have been made at exploring the domain, however very few have been successful in precise execution. We are glad the investors put their faith in the model and the team. These funds would give us a push in establishing our services across multiple cities which is the immediate plan for us”.
TSAW is providing logistics services by creating an alternate mode of unmanned transportation and developing drone corridors which will expand throughout Indian geography. These services can be used by any client on a monthly subscription basis. To make this possible, TSAW has developed drones capable of carrying 5kg payload to a distance of 40kms and is working on drones with longer range and higher payload capacity to carry any kind of loads.
TSAW is targeting to start its services in three Tier 1 cities by the end of this financial year utilising these funds, and aims to reach each and every village in the next 5 years.
So far, TSAW has completed successful trials in Kolkata, Orissa, Indore, Mumbai, Gurgaon, Madhurai, Hyderabad and Coimbatore with various clients. Soon TSAW will also be launching its dedicated corridors for clients in Himachal and Uttarakhand for transportation of medical supplies.
Investor speak
Gaurav VK Singhvi- Co-founder, We Founder Circle, said, “In order to democratise the tech explorations taking the leap of faith is important. TSAW is empowering a domain which has been in the air for long but not a lot of people have been able to unleash its complete potential. We are glad to have become a part of a greater mission and logistics revolution that TSAW is aiming to begin”.
