Drone Delivery Startup Zipline Sees Valuation Surge To $4.2B
In a recent filing, drone delivery company Zipline disclosed a $330 million Series F financing round in April, which is notable in a market where few startups have managed to secure funding at such elevated valuations.
Based in South San Francisco, Zipline is raising the funds at a 55% increase from its previous $2.7 billion valuation two years prior.
The April 10 Delaware filing indicated a per-share price of $40.20, with a possible Series F-1 extension of up to $20 million that could be included, causing the total amount raised to fluctuate. No lead investor was mentioned or identified at the time of publication.
Zipline reportedly confirmed the new funding in a statement and plans to use the capital to expand operations, including launching a new home delivery service.
Past investors, such as Sequoia, Andreessen Horowitz, Katalyst Ventures, GV, Pactolus Ventures, Emerging Capital Partners, and Reinvent Capital, did not comment on the matter. The funding comes as…