GrowthCap Ventures backs LogiXair cargo aircraft
By Abha Lohia ·
- LogiXair, based in Hyderabad, is developing autonomous hybrid-electric aircraft that take off vertically to carry cargo without needing runways
- GrowthCap Ventures invested alongside angels who previously worked in aerospace, though the sum was not disclosed
- The money supports engineering work, technology testing and getting the aircraft ready for commercial use
What happened
- GrowthCap Ventures invested in LogiXair.
- Angel investors with aerospace backgrounds also took part.
- The amount was not disclosed.
Why it matters
- Short-haul cargo between metros and smaller towns is poorly served today.
- The aircraft is designed for routes up to 600 km without runways.
The business
- LogiXair builds autonomous hybrid-electric VTOL (vertical take-off and landing) cargo aircraft.
- It targets metros, industrial hubs and Tier II and III cities.
- It plans to serve international markets too.
The founders
PK
Pulla Kapil
Co-founderWho put in money
- GrowthCap Ventures Investor — Early-stage venture firm for tech businesses
What happens next
- Engineering development and technology validation.
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