Venture Capital: Delivery Drone Maker Zipline Lands $330M Series F Round
According to Forbes, which quoted a filing, the funding round valued Zipline at $4.2 billion.
Drone delivery startup Zipline has raised $330 million in a Series F funding round, increasing its valuation to $4.2 billion, up from $2.7 billion two years ago. The company’s autonomous delivery drones were first deployed in Rwanda in 2016 and later expanded to Ghana, Cote d’Ivoire, Japan, Kenya, and Nigeria.
During the early months of the Covid-19 pandemic, Zipline experienced increased business as it delivered blood and vaccines in those African nations. (Forbes)
In the US, Zipline operates in Arkansas, North Carolina, and Utah, with plans to expand further pending regulatory approval from the Federal Aviation Administration (FAA).
The funding will help the company grow operations and launch a new home delivery service. Zipline’s past investors, including Sequoia, Andreessen Horowitz, Katalyst Ventures, GV, Pactolus Ventures, Emerging Capital Partners, and Reinvent Capital, did not comment on the funding round, Forbes said.
The company’s new autonomous drone, the Platform 2, can carry up to eight pounds of cargo and has a range of 10 miles. Zipline has raised over $900 million to date.
Related Story: Drone Maker Skydio Raises $170M; Earns Its Horn
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