Wingcopter Scores $42 Million in Latest Funding Round
Wingcopter, the German delivery drone manufacturer and service provider, today announced that it has raised $42 million from renowned financial and strategic investors.
The new funding is part of a Series A extension round, tripling the company’s total equity raise to more than $60 million to date. Leading German retailer REWE Group as well as German investors Salvia and XAI technologies came on board as new shareholders.
They were joined by Japanese conglomerate ITOCHU and previous backers Futury Capital from Germany and Silicon Valley-based Xplorer Capital.
REWE Group as one of Germany’s largest grocery retailers with 12,000 stores across Europe is an ideal addition to Wingcopter’s investor base and a clear sign that Wingcopter’s future will expand beyond medical drone delivery services.
Salvia, with an investment focus on disruptive technologies, is known for its early investment in German biotech champion BioNTech and will actively support Wingcopter’s growth path with its longstanding company building expertise.
XAI technologies, founded by machine vision pioneer Enis Ersü, will add additional value thanks to the team’s deep knowledge and experience in the fields of sensor technology and industrial automation.
With the fresh funding, Wingcopter will be able to further expand its drone delivery services globally and ramp up production of the world’s most efficient eVTOL delivery drone, the Wingcopter 198.
Wingcopter has been experiencing a continuously growing demand for its new unmanned aircraft system and has already sold most production slots for this and next year.
Wingcopter’s production facility in Germany is designed to manufacture thousands of Wingcopter drones per year and will soon start with partly automated production work, significantly speeding up the production process.
In Malawi, where the company has been active since 2019, Wingcopter will expand its network operations with new Wingcopter 198 drones and more hubs, transporting various medical goods.