London-based Dronamics, a cargo drone airline with a license to operate in Europe, announced that it has received an award grant of €2.5M from the European Commission under the European Innovation Council (EIC) Accelerator program.
The EIC has also expressed a material commitment to support Dronamics’ upcoming Series A round.
Dronamics was selected as one of the few companies to have been awarded funding by the EIC Accelerator program, which had nearly 1,000 candidates.
Founded in 2014 by Konstantin Rangelov and Svilen Rangelov, Dronamics claims to be the world’s first cargo drone airline that develops and operates large, long-range drones.
The company is democratizing airfreight for millions of people by making it more efficient, affordable, and accessible.
Its flagship Black Swan can transport 350 kg at a distance of up to 2,500 km, up to 80 percent faster, 50 percent less expensive, and with up to 60 percent fewer emissions than alternative modes of transportation, including airfreight.
With an aim to democratize air freight, Dronamics says it will use the grant to support the development and roll-out of its cargo drone fleet, the deployment of the first droneports in its network, and conduct business in Europe.
Read more on Tech Gist Africa:
London-based startup Surfboard raises €4.8M