The Venture Codex

Participated · Series A · Jun 2024

Founded in 2019, Skye Air Mobility develops and operates a hyperlocal drone delivery network that combines aerial drones capable of carrying up to 10 kg with a proprietary traffic management system called Skye UTM and an AI-enabled hub-pod-walker ground logistics layer. The company’s ‘Physical AI stack’ links autonomous drones, airspace management and ground robotics into a single delivery chain designed for India’s dense urban environments. Over a little more than two years of commercial operations, Skye Air has completed 3.6 million autonomous deliveries for e-commerce, healthcare and industrial clients. Management positions the platform as a way to shorten last-mile delivery times while preserving jobs through its hybrid ground-and-air approach. With fresh capital, Skye Air plans to scale from its Delhi-NCR base to Bengaluru, Mumbai, Pune, Hyderabad and Kolkata within the next 18 months. The expansion will focus on deepening its Physical AI stack and building additional delivery infrastructure to capture a share of India’s $5.5 billion—and rapidly growing—last-mile logistics market.

Participated · Series A · May 2024

Skippi is an ice-popsicle and frozen-dessert brand launched in 2021. The company sells through over 20,000 offline outlets nationwide and on major online platforms including Zepto, Swiggy Insta, Amazon, Big Basket and its own site. It has expanded its range with recent launches such as cornsticks and cream rolls and targets a ₹100 crore valuation. Skippi raised ₹10 crore in a Pre-Series A round and is in talks to raise an additional ₹7 crore. The company says the new capital will be used for brand building, marketing, working capital, new product development and hiring key leadership. Prior to this round, Skippi secured ₹1.2 crore for an 18% equity stake from investors on Shark Tank India.

Participated · Series A · Apr 2024

AutoNxt Automation is an electric powertrain maker focusing on commercial mobility. The startup raised $3 million in a pre-Series A funding round led by Saama, Amit Singhal, Suveer Sinha, and Bluehill Capital, with participation from Keiretsu Forum, Soonicorn Ventures and other marquee investors. The company plans to use the funds to launch an electric tractor with self-driving options designed for commercial use later this year. Founder and CEO Kaustubh Dhonde said the funding will help fast-track engineering efforts and establish the brand as a dependable, global mobility platform with an "India for India" mantra. Saama partner Hemant Asher cited conviction in Industry 5.0, the India-built technology platform, and the founding team’s commercial focus as reasons for backing the company. AutoNxt is currently concentrating on the commercial segment in this phase of its business.

Participated · Series A · Apr 2024

AutoNxt Automation develops electric powertrains and off-highway autonomous technology, with an initial product focus on electric tractors featuring self-driving options and modular swappable batteries. The company has pioneered high-torque, high-voltage powertrains, self-driving systems, an ultra-fast 2-hour charging capability and an IoT mobile app for fleet monitoring and serviceability. AutoNxt says its electric tractors have operating costs one-fifth those of diesel tractors, enabling owners to break even in under two years and delivering substantially lower maintenance and fuel expenses over a 10-year ownership period. With the recent Pre-Series A funding of around $3 million led by Saama, AutoNxt plans to fast-track engineering and launch India’s first electric tractor with self-driving options later this year for commercial use. Target commercial segments include biomass plants, airports, construction, agriculture and solar farms. After initial deployments, the company intends to diversify into other off-highway segments to expand its product portfolio and open new lines of business.

Participated · Series A · Jan 2024

Settl operates a co-living platform that lets users search for and rent fully furnished apartments, individual rooms, or shared living spaces. The startup targets working professionals and runs more than 60 co-living centers across Chennai, Bengaluru, Hyderabad, and Gurugram, with a total capacity of 4,000 beds. Pricing for its accommodations ranges from Rs 12,500 to Rs 18,000 per bed. Settl was founded in 2020 by Abhishek Tripathi. In its recent pre-Series A round it raised Rs 10 crore, bringing total capital raised to about Rs 14.9 crore. The company says the proceeds will be used to invest in technology, grow the team, and support working capital.