Wingcopter, a Weiterstadt, Germany-based delivery drone manufacturer and service provider, raised $42m in Series A extension funding.
The round, tripling the company’s total equity raise to more than $60m to date, was supposed by REWE Group, Salvia and XAI technologies, which were joined by ITOCHU and previous backers Futury Capital and Xplorer Capital.
The company intends to use the funds to expand its drone delivery services globally, ramp up production, accelerate R&D efforts, and hire 80 new employees.
Led by Tom Plümmer, Co-founder and CEO, Wingcopter is a manufacturer of eVTOL, fixed-wing unmanned aircraft systems (UAS) and provider of drone delivery services, focused on optimizing medical supply chains, as well as last-mile logistics of packages, tools, spare parts, food, and groceries.
Thanks to its patented tilt-rotor mechanism and software algorithms, the Wingcopter 198 can take off and land vertically like a multicopter, while flying long distances as efficiently and quickly as a fixed-wing aircraft, even in heavy rain and wind.