Wingcopter secures $42 million in the latest funding round to expand its drone delivery services

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Wingcopter has secured $42 million in the latest funding round from renowned financial and strategic investors. The new funding is part of a Series A extension round, tripling the company’s total equity raised to more than $60 million to date.

REWE Group as well as German investors Salvia and XAI technologies came on board as new shareholders. They were joined by Japanese conglomerate ITOCHU and previous backers Futury Capital from Germany and Silicon Valley-based Xplorer Capital.

The funding will be used to expand Wingcopter’s drone delivery services globally. Moreover, the company aims to increase the production of its popular fixed-wing delivery drone, the Wingcopter 198. Hence, Wingcopter will hire 80 new employees.

“At Wingcopter, we create efficient and sustainable drone solutions to save and improve lives. For this, we are hiring passionate pioneers with whom we build what has not existed before,” said Tom Plümmer, Co-founder and CEO of Wingcopter.

Drone delivery services and delivery drones, such as the Wingcopter 198, have experienced an increase in demand ranging from the delivery of medical supplies to groceries.

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