Wingcopter secures $42M to support expansion, production

Drone company Wingcopter has secured $42 million from investors during its series A extension round to fund production and delivery expansions. Germany-based Wingcopter’s delivery drone, the Wingcopter 198, has already sold most production slots for 2022 and 2023, according to today’s release. With the new capital, the company will be able to expand its delivery services globally and ramp up production, and plans to invest in research and development efforts for new product features, and hire 80 new employees. [caption id="attachment_57065365" align="alignright" width="551"] Photo / Wingcopter[/caption] The recent funding round has resulted in multiple new investors, including Germany-based retailer REWE Group, a sign that Wingcopter deliveries will expand beyond medical delivery services , according to the release. REWE Group has around 12,000 stores across Europe. Germany-based Salvia and XAI technologies also joined the roster as recent investors with the intention of building Wingcopter’s growth path, sensor technology and industrial automation efforts. Japan-based conglomerate Itochu is also a new investor and may open doors to the Japanese market. Previous backers include Germany-based Futury Capital and Silicon Valley-based Xplorer Capital. Equipped to transport up to 6 kg and fly up to 110 km, the Wingcopter 198 had its Airworthiness Criteria approved by the Federal Aviation Administration (FAA) in May. That same month Wingcopter partnered with Continental Drones, a subsidiary of Ghana- and Dubai-based Atlantic Trust Holding, with plans to deploy 12,000 drones in Africa to support health care deliveries , starting in 2023. Wingcopter also works with Spright, a subsidiary of U.S. air medical service provider Air Methods, to help deliver shipments between laboratories and hospitals. Wingcopter has raised more than $60 million in total equity to date, according to the release. Wingcopter is one of the several companies driving innovation in the cargo drone delivery industry , which has seen growth with the e-commerce boom and demand for contactless deliveries, and is forecasted to grow to $5.6 million by 2030 from $228 million in 2022, according to today’s updated report from market research provider Research and Markets.

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Wingcopter secures $42M to support expansion, production

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