Drone maker Volansi secures $50M to expand its drone delivery service of urgent medical supplies and future COVID-19 vaccines. The ‘series B’ funding round of $50M brings the total funding to $75M to support its vertical take-off and landing (VTOL) middle-mile drone delivery platform.
Drone maker Volansi secures $50M to expand its drone delivery service
The ‘series B’ funding round of $50M brings the total funding to $75M and enables drone maker Volansi Inc. to support its vertical take-off and landing (VTOL) middle-mile drone delivery platform and to expand its ability to deliver urgent medical supplies such as COVID-19 vaccines.
The drone startup plans to grow its team, start new projects, and expand its current initiatives in the U.S. and abroad. Volansi’s primary focus is to provide automated, point-to-point drone delivery service for enterprise customers and the U.S. Department of Defense.
“With just over 65 team members in Northern California, Arizona, and Africa, we will continue to grow our team – adding engineers, developers, and operators, and building our support and success teams to reinforce our growing projects across the globe,” said Hannan Parvizian, CEO and Co-Founder of Volansi.
Icon Ventures led the ‘series B’ funding round with additional participation from earlier investors Lightspeed Venture Partners and YCombinator as well as new investors Harpoon Ventures and Merck Global Health Innovation Fund. Icon’s managing partner, Joe Horowitz, and Lightspeed’s founding partner, Barry Eggers, will join San Francisco-based Volansi’s board of directors.
“The drone market is very crowded with all sorts of players, but after getting to know [Volansi CEO and Co-Founder Hannan Parvizian] and his team and doing an extensive amount of due diligence, especially with Volansi’s key customers and distribution partners, it became abundantly clear that the company is well-positioned to rapidly build a huge business,” Icon’s Horowitz said in a release. “We are particularly excited about Volansi’s unique ability to address the medical community with urgent vaccine delivery, particularly in looking ahead to a post-Covid world.”
Volansi aims to provide fast, on-demand, drone delivery services for urgent shipments over long ranges. The company’s first autonomous drone is the VOLY C10 that can carry payload of up to 10 pounds over a distance of 50 miles. The VOLY C10 has already been tested in Africa, the Caribbean, and in the U.S. Another drone from Volansi, the VOLY M20 can carry payloads of up to 20 pounds in combination with a maximum sensor payload of up to 10 pounds over a 350-mile range, while cruising at a speed of 75 mph for over eight hours.
Thrilled to announce $50m in series B funding today led by @iconventures, with @lightspeedvp @ycombinator & Harpoon Ventures. Watch this space as we launch new projects, grow our team & continue to push the envelope of #drone drone delivery & logistics! https://t.co/mu0MaH25LB pic.twitter.com/iJ7aZbiH3E
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