Wingcopter has secured a $42 million funding round from well-known financial and strategic investors. The fresh funds are part of a Series A extension round, which brings the company's total equity raising to more than $60 million. As new owners, the leading German retailer REWE Group, as well as German investors Salvia and XAI technologies, joined the company. They were joined by Japanese company ITOCHU, as well as existing investors Futury Capital from Germany and Xplorer Capital from Silicon Valley.
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.
XAI technologies, established by machine vision pioneer Enis ErsĂĽ, will provide value because of the team's extensive expertise and experience in sensor technology and industrial automation. ITOCHU, a Fortune Global 500 company, is one of Japan's top trading corporations and will provide fresh access to the potential Japanese market.
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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
