CNN Central News & Network-ITDC India Epress/ITDC News Bhopal: Hyderabad. In a move aimed at promoting technology-led innovation and advanced aviation, GrowthCap Ventures has invested in Hyderabad-based deep-technology company Logixair. The company is developing autonomous hybrid-electric aircraft that can be used for cargo transportation in India and international markets. Some individual investors with professional experience at Honeywell Aerospace also participated in this investment round.
Logixair was founded by Bhanu Teja Chidura and Pulla Kapil. The company aims to enable faster and more reliable short-distance movement of goods between metropolitan cities, industrial centres and tier-II and tier-III cities.
The company’s L560 aircraft is being developed as an autonomous hybrid-electric aircraft capable of taking off and landing without a conventional runway. Its proposed capacity is to carry up to 300 kilograms of cargo and cover a distance of about 600 kilometres. The technology could create new options for delivering goods to areas where traditional transport facilities are limited.
The capital raised through the investment will be used for aircraft engineering, technical testing, validation of systems and preparation for commercial use. The company is working to integrate autonomous aviation, electric propulsion and modern cargo management systems for freight transportation.
According to Logixair co-founder Bhanu Teja Chidura, the company’s goal is to make regional cargo transport faster, more flexible and less dependent on traditional transport networks. GrowthCap Ventures founder and general partner Prateek Agarwal has also expressed confidence in the company’s technical capabilities and its potential in the autonomous aviation sector.
Amid growing interest in autonomous aviation and advanced transport technologies, the investment is being seen as an important step towards the growth of India’s deep-technology sector. The company is exploring the potential use of its technology across various sectors, including defence, industrial and commercial cargo transportation.
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