Europe’s first licensed drone delivery airline, Dronamics, said it has raised $40 million in pre-Series A funding for the launch of its innovative strategy of providing middle-mile aerial transport services in a sector that has largely focused on last-mile activities.

Dronamics announced on Friday it had raised a total of $40 million for its middle-mile drone delivery business from capital funds and angel investors from 12 countries, in advance of its upcoming Series A round. That does not include $2.7 the company had been accorded in November by the European Commission under its European Innovation Council (EIC) Accelerator advanced tech support program. The EIC also committed to getting in on some of the company’s action with a future $13.45 million equity investment.

Read more: Dronamics’ $2.6M EU grant precedes Series A round to fuel middle-mile drone delivery launch

Building that war chest ahead of its Series A round aims to provide…

More…

Source: dronedj.com