Swoop Aero raises $16 million, expands drone production

Drone delivery company Swoop Aero has completed a $16 million Series B venture capital raise, building on the success of more than two years of continuous drone delivery services of medical supplies across Africa.

The company, which had delivered more than 800,000 urgently needed supplies by drone, will use the funds to enter into new markets, scale its integrated logistics networks and expand Australian manufacturing capabilities.

The company will scale up production of its Kite aerostructure – which can transport up to 5kg of supplies – in Port Melbourne.

Manufactured by advanced composites manufacturer Quickstep Holdings, the drone can fly 130km/h in 90 per cent of wind conditions with a 3kg payload

The successful Series B raise was led by tech venture capital fund, Main Sequence, together with VC fund Giant Leap and In-Q-Tel, a non-profit strategic investor to the U.S. national security community.

Joining for a third time re-investment are both Artesian and Folklore Ventures.

Main sequence partner Mike Nicholls said: “After looking at many drone companies throughout the years, we are proud to back Swoop Aero for building a full aircraft operation system from the ground up to comply with civil aviation regulations around the world.

“Every time a Swoop aircraft takes off, it eliminates the cost, time and emissions needed to send a delivery by vehicle.

“Swoop Aero is leading the way, benchmarking the future of logistics technology and aviation, in turn making high impact, equitable and quality logistics networks a reality.” .

Swoop Aero CEO Eric Peck said the company looked forward to scale its networks to deliver services that will transform how the world moves.

Swoop Aero also strengthened its relationship with manufacturing partner Quickstep which will significantly scale up the manufacture of the Kite aerostructure at their Port Melbourne site throughout 2022 and 2023.

Picture: Swoop Aero

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