London-based Dronamics, a freight drone airline with a European operating authorisation, announced that it has raised $40M in a pre-Series A round of funding.
The investment came from Founders Factory, Speedinvest, Eleven Capital, and the Strategic Development Fund (SDF), the financial arm of the Tawazun Council in Abu Dhabi, UAE.
The funding comes on top of a €2.5M grant from the European Commission through its European Innovation Council (EIC) Accelerator programme, as well as the EIC’s material promise to back Dronamics’ Series A round with another €12.5M in equity investment.
Founded in 2014 by Konstantin Rangelov and Svilen Rangelov, Dronamics is a cargo drone airline that develops and operates large, long-range drones.
The company is democratising airfreight for millions of people by making it more efficient, affordable and accessible.
Its flagship Black Swan can transport 350 kg (770 lb) at a distance of up to 2,500 km, up to 80 per cent faster, 50 per cent less expensive, and with up to 60 per cent fewer emissions than alternative modes of transportation, including air freight.
This will allow same-day delivery over long distances for a wide range of sectors, from pharmaceutical to food, and e-commerce to spare components.
Dronamics is the first authorised freight drone airline in Europe and the first Global Strategic Partner for drones for IATA.
This means that Dronamics can reach where traditional aircraft cannot go, allowing for easy integration into any business’ supply chain.
And, by eliminating the need for local warehousing, there is a drastic reduction in time, cost and emissions.
Dronamics claims that droneports can be established in abandoned airfields, airports, seaports, logistical centres, and industrial locations with minimal infrastructure.
All that is needed are concrete or unpaved airstrips longer than 400 metres in length to link communities and businesses that have previously lacked access to low-cost same-day transport and service on underutilised paths.
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