Hyderabad-based deep-tech startup LogiXair has raised seed funding from GrowthCap Ventures, an early-stage deeptech fund, to build autonomous aerial logistics for India and international markets. The round, announced on October 21, 2026, also saw participation from angel investors with Honeywell Aerospace backgrounds, adding to the latest startup funding in India news in the deeptech segment.
Founded by Bhanu Teja Chidura and Pulla Kapil, LogiXair is developing autonomous hybrid-electric vertical take-off and landing (VTOL) aircraft for cargo logistics. Its flagship L560 aircraft is designed to carry up to 300 kg over 600 km, targeting fast, reliable short-haul cargo movement of up to 600 km between metros, industrial hubs and Tier II and III cities — without conventional runways.
The startup has validated a hybrid-electric powertrain, flight-tested sub-scale prototypes and built six IP assets at Technology Readiness Level 6. It works with DRDO and other aerospace and defence OEMs, and says the revenue from its defence engineering business supports a capital-efficient path to commercialisation.
Why investors are betting on autonomous cargo in India
Pratekk Agarwaal, Founder and General Partner at GrowthCap Ventures — a SEBI-registered Category II, operator-led fund investing in deeptech, fintech and AI — said the team had taken the company from concept to a flying hybrid-electric VTOL, and that the platform could serve defence and offshore logistics first, then India's middle-mile cargo, with Europe and Asia-Pacific as natural international markets.
Why it matters for founders
Deeptech rounds are landing on the strength of validated hardware and real revenue, not slides. LogiXair's DRDO engagements and defence engineering income gave GrowthCap conviction — a playbook for hardware founders: build with paying strategic customers early, then scale the platform.