Dronamics, the world’s first cargo drone airline with licence to operate in Europe has announced that is has raised a total of $40 million in pre-Series A funding, as it looks to launch its middle-mile deliveries.
The service, which is powered by its Black Swan cargo drone, is said to enable same-day delivery to the most remote areas, faster, cheaper, and with less emissions than other transportation methods. As well as launching in Europe, the company aims to use the investment to take the all-in-one solution into other markets globally.
The funding amount includes investment from venture capital funds and angel investors, from 12 countries, such as Founders Factory, Speedinvest, SeedBlink and Eleven Capital. Most recently the Strategic Development Fund (SDF), which is the investment arm of the Tawazun Council in Abu Dhabi, added its financial backing as Dronamics approaches its upcoming Series A round.
This is seen as a step towards the creation of a UAE-based joint venture that will expand Dronamics’ capacity and establish operations in the UAE. The country will also serve as a hub for the Middle East and North Africa region.
In a statement, Dronamics said that SDF would become a main partner in the UAE-based joint venture (JV) with additional significant investment, and once a manufacturing and operations JV has been established,
“SDF looks at investing in aerospace and mobility companies that can improve movement of humans and cargo autonomously in a sustainable and cost effective manner,” said Abdulla Naser Al Jaabari, Managing Director and CEO of SDF.”
He added, “When it comes to Dronamics, their economics are very promising and potential users of Dronamics would benefit from quick and efficient cargo deliveries. As one of Dronamics’ latest strategic investors, SDF will be working closely to support the ongoing growth of the company through the UAE and globally.”
Middle mile delivery is the centre part of the process where goods are transported from a warehouse or fulfillment center to a retail facility.
The $40 million is in addition to the €2.5 million ($2.7 million) grant Dronamics was awarded by the European Commission under the selective deep-tech European Innovation Council (EIC) Accelerator program, and the EIC’s material commitment to support Dronamics’ Series A round with another €12.5 million ($13.45 million) in equity investment.
