Wingcopter funding round 42 million for drone delivery
Wingcopter Secures $42M in Latest Funding Round
by DRONELIFE Staff Writer Ian M Crosby
This week, drone delivery company Wingcopter announced its acquisition of $42 million in funding from a Series A extension round, tripling the company’s total equity raise to over $60 million.
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The round saw participation from new shareholders such as German retailer REWE Group, and German investors Salvia and XAI technologies, as well as Japanese conglomerate ITOCHU and previous backers Futury Capital from Germany and Silicon Valley-based Xplorer Capital.
The new funding will enable Wingcopter to expand its drone delivery services, as well as increase production of its Wingcopter 198 eVTOL delivery drone, which recently met the Federal Aviation Administration’s (FAA) Airworthiness Criteria and has been experiencing a growing demand. Wingcopter also intends to leverage the funding to advance the firm’s R&D efforts to…