German drone delivery pioneer Wingcopter announced that it has received an investment from DRONE FUND.
DRONE FUND is a Japan-based venture capital company specializing in drone and air mobility related startups. The investment is made out of DRONE FUND’s JPY 10 billion/USD 90 million strong third fund, called DRONE FUND III (officially DRONE FUND III Investment Limited Partnership), and comes in the run-up of Wingcopter’s Series B investment round. It is DRONE FUND’s first investment in eVTOL drone technology as well as its first investment in a German company.
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Germany-based Wingcopter, a manufacturer and operator of unmanned delivery drones for commercial and humanitarian applications, has secured $22 million in Series A funding.
The funds will be utilised to strengthen its leadership in drone-based logistics, with a special focus on healthcare-related applications, including the distribution of Covid-19 vaccines.The financing round was led by Silicon Valley-based Xplorer Capital, a key investor in autonomous technologies, and Futury Regio Growth Fund, a Germany-based growth capital fund focusing on investments in globally scalable business models.
In addition, Futury Ventures and Hessen Kapital III participated in this financing round.https://www.logupdateafrica.com/wingcopter-raises-22-mn-in-series-a-funding-announces-serial-production-drones
