In a recent investment round, the South San Francisco-based drone delivery business Zipline raised $330 million. The company is now valued at $4.2 billion in the Series F investment round, a 55% increase from its prior estimate of $2.7 billion from two years ago.
On April 10, the money was made public in a Delaware filing, which disclosed that the round’s price per share was $40.20.
Zipline, a Bay Area Drone Firm
According to Zipline, who verified the funding, both new and old investors were involved. The business just released a new autonomous drone, the Platform 2, with a ten-mile range and an eight-pound payload capacity.
A docking station that resembles a lamppost is where the drone can charge. For corporations, governments, and consumers, Zipline is a logistics company that develops, produces, and manages the biggest instant logistics and delivery system in the world.
- South San Francisco-based drone delivery business Zipline raised $330 million.
- The business just released a new autonomous drone with a ten-mile range and an eight-pound payload capacity.
- It features two delivery platforms for long-range distribution, and for next-generation home delivery.
The idea behind it is straightforward: a teleportation service that delivers what you need, when you need it. The technology employed to make this possible is complicated and comprises autonomous, electric drones.
With a current delivery pace of one every 90 seconds and operations across three continents and seven nations, Zipline has made over 540,000 deliveries to actual consumers.
It features two delivery platforms: Platform 1, which is for long-range distribution, and Platform 2, which is for next-generation home delivery.
A complicated network of software for inventory management, fulfillment, warehousing, performance management, cold chain storage, and airspace deconfliction is needed for every delivery.
To provide its delivery services, Zipline collaborates with several businesses including Walmart, Pfizer, Toyota Tsusho, Sweetgreen, and NGOs in addition to big health systems, national governments, and more.