Zipline raises $1.5bn for nationwide US drone delivery
Paradigm, WCM Investment Management and Layer Global lead financing at a $21.5bn post-money valuation.
Zipline has raised $1.5 billion to expand manufacturing, hire staff and build a nationwide US drone delivery network. Paradigm, WCM Investment Management and Layer Global led the round, which values the company at $21.5 billion after the investment.
Participants include Valor Equity Partners, Fidelity Management & Research Company, Uber, Tiger Global, J.P. Morgan, ARK Invest and Salesforce Ventures.
The company delivers food, groceries, medicines and other goods with autonomous aircraft. Its expansion includes an agreement with Walmart for 300 additional sites, while Uber is targeting one million daily deliveries with Zipline by 2029.
Use of funds
Expand US manufacturing
Hire staff
Nationwide US drone delivery network