Zipline Valuation Rises to $4.2 Billion in New Funding Round
DRONELIFE Staff Writer Ian M. Crosby
As reported by forbesa drone delivery startup zip line has now raised $330 million in a new funding round.
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A filing filed in Delaware on April 10 revealed a Series F funding round, priced Zipline at $40.20 per share. The funding brings the company’s valuation to about $4.2 billion, up about 55% from its $2.7 billion valuation two years ago. The filing also listed a Series F-1 extension of up to $20 million, which could still participate in the round, and the exact amount raised is subject to change. A lead investor has not yet been identified.
According to a Zipline statement, “We recently closed our Series F funding round with a valuation increase involving several new and existing investors. , has sufficient capital to continue to expand its business.
The news follows Zipline’s recent announcement of its new autonomous drone, Platform 2. The new drone can carry 8 pounds of cargo with a range of 10 miles and can be recharged at a docking station that resembles a light pole. Zipline also announced new partnerships with food chain Sweetgreen, Michigan Medicine, and several other healthcare systems.
Most of the company’s growth is due to its activities in Africa. Zipline expanded to Ghana after it began deploying automated delivery drones in Rwanda in 2016. Ghana had great success delivering blood and his Covid-19 vaccine early in the pandemic.
Zipline CEO and co-founder Keller Rinaudo said in an interview with Forbes: “That’s not what we see.”
The company currently has operations in the US states of Arkansas, North Carolina, Utah, Ivory Coast, Japan, Kenya and Nigeria. Zipline’s U.S. expansion was boosted in 2020 after an exemption from the FAA allowed the company to conduct drone deliveries of his Covid-19 relief supplies. The following year, the company partnered with Walmart to begin piloting commercial deliveries. While large-scale operations in the United States currently rely on FAA clearance, the prospect of nearing solutions to these regulatory hurdles provides strong incentives for investors.
Zipline has received funding from companies including Andreessen Horowitz, Slow Ventures, Katalyst Ventures, and GV, a venture company of Google’s parent company Alphabet. Pactolus Ventures, Intercorp, Emerging Capital Partners and Reinvent Capital led his 2021 funding round. Zipline has raised more than $900 million to date, according to his PitchBook on Startup Tracker, adding to this new funding from the Series F round.
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Ian attended Dominican University in California and graduated with a BA in English in 2019. With his lifelong passion for writing and storytelling and keen interest in technology, he now contributes to his DroneLife as a staff writer.
Miriam McNabb, editor-in-chief of DRONELIFE and CEO of professional drone services marketplace JobForDrones, is a fascinating observer of the emerging drone industry and drone regulatory environment. With her 3,000+ articles focused on the commercial drone space, Miriam is an international speaker and recognized figure in the industry. Miriam holds a degree from the University of Chicago and has over 20 years of experience in high tech sales and marketing new technologies.
For drone industry consulting or writing, please email Miriam.
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