Wingcopter, a Weiterstadt, Germany-based delivery drone manufacturer and service provider, raised $42m in Series A extension funding.
The drone delivery company known for transporting medical supplies like blood and vaccines is hungry for a new direction.
The round, tripling the company’s total equity raise to more than $60m to date, was supposed by REWE Group, Salvia and XAI technologies, which were joined by ITOCHU and previous backers Futury Capital and Xplorer Capital.
The company intends to use the funds to expand its drone delivery services globally, ramp up production, accelerate R&D efforts, and hire 80 new employees.
REWE Group, one of Germany’s leading food retailers with 12,000 shops throughout Europe, is an appropriate addition to Wingcopter’s investor base and a strong indication that Wingcopter’s future will include more than just medical drone delivery services. Salvia, known for its early investment in German biotech champion BioNTech, will actively assist Wingcopter’s growth route with its longstanding business building knowledge.
At the time of the raise, Wingcopter operated primarily in sub-Saharan Africa, delivering medical supplies to rural areas. But with new investors from Europe and Asia, the firm is signaling its ambitions for more.
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