• StreetDrone, a UK-based developer of autonomous delivery vehicles (ADVs), has received GBP 3 million (approximately USD 4.2 million) from the British high-street retail chain Wilko, as part of a “multi-million-pound” pre-Series A funding round. The investment reportedly gives Wilko a significant stake in SreetDrone.

• StreetDrone intends to utilize the funds to fast-track the development and deployment of its ADVs and its autonomous delivery system. Wilko plans to deploy the ADVs to make deliveries for its customers, once available.

• In addition, Jonathan Griffin, Director of WilkinsonFuture venture capital firm, will be appointed as a director to oversee the investments on behalf of Wilko.

<ul><li> Analyst QuickTake: The investment by Wilko shows an increasing trend of retailers showing interest in autonomous last-mile delivery methods. For example, British autonomous vehicle software developer Oxbotica raised USD 13.8 million from UK online grocery retailer Ocado in April this year, while Walmart made undisclosed investments in DroneUp, a Virginia-based drone solutions provider ( June 2021 ), and in General Motors’ self-driving car unit Cruise ( April 2021 ).</ul>