Defense giant Leonardo backs FlyingBasket heavy-lift drone push
Scaling efforts by Italian cargo and heavy-lift drone developer FlyingBasket have received further lift with longtime strategic partner and European aviation and defense giant Leonardo assuming a direct equity stake in the Milan-based company.
The move by Leonardo strengthens and solidifies the backing of FlyingBasket as it works to scale its client base and industrial uses of it heavy-lift and cargo transporting drones. Entry of the Italian defense corporation will broaden the financial foundation from which FlyingBasket seeks to build its business across Europe. It will also provide valuable business management and growth strategy insights from Leonardo, which under the deal will take a spot on the startup’s board of directors.
Leonardo has provided the 2015-founded FlyingBasket with various forms of support in the early phases of its activity – including the first test flight of a heavy-lift drone over a major urban area in Italy at…