![]() Wingcopter shared some pretty solid details on how it intends to spend its fresh infusion of cash. How will the Wingcopter funding round money get spent? Thus, it’s not unreasonable to expect that Wingcopter - which primarily conducts medical drone deliveries at the moment - might expand to grocery delivery. REWE Group is one of Germany’s largest grocery retailers, operating about 12,000 stores across Europe. While there are some expected players such as Silicon Valley-based Xplorer Capital (which already invested in another drone delivery company, Zipline, as well as other tech giants like Square, Uber and Alibaba), one standout investor is REWE Group. Perhaps most interesting is what players are actually investing in Wincopter. And now, this latest funding round now triples the company’s total equity raise to more than $60 million to date. At the end of 2021, Wingcopter received an undisclosed, 7-figure investment from Japanese venture capital company Drone Fund. Yet despite the company not having many funding rounds, it has raised a lot of money in a short time. The June 2022 Wingcopter funding round is only a Series A extension round, following a $22 million series A that kicked off at the beginning of 2021. ![]() ![]() And perhaps most interestingly is that, amid layoffs in other aspects of the tech industry, Wingcopter wants to hire about 80 new employees. German-based drone delivery manufacturer and service provider Wingcopter announced at the end of June that it had secured $42 million in its latest funding round, which will be used to expand the company’s drone delivery services globally, ramp up production, and accelerate the firm’s R&D efforts. A massive $42 million Wingcopter funding round signals that drone delivery is set to grow big - and soon. ![]() Despite cries of inflation and rapid inflation, the world is still going all in on drone delivery, and investors are looking to make it happen (and turn around a profit themselves). ![]()
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