All Updates

All Updates

icon
Filter
Funding
Flytrex raises USD 40 million in Series C funding
Last-mile Delivery Automation
Nov 19, 2021
This week:
Partnerships
Daimler Truck launches first electric Freightliner eCascadia in Michigan
Truck Industry Tech
Yesterday
Partnerships
Rocket Lab secures multi-launch contract for Neutron with commercial satellite operator
Next-gen Satellites
Nov 12, 2024
Partnerships
Rocket Lab secures multi-launch contract for Neutron with commercial satellite operator
Space Travel and Exploration Tech
Nov 12, 2024
Product updates
Millennium Space delivers two spacecraft for upcoming NASA mission
Next-gen Satellites
Nov 12, 2024
Product updates
Millennium Space delivers two spacecraft for upcoming NASA mission
Space Travel and Exploration Tech
Nov 12, 2024
Funding
Firefly Aerospace secures USD 175 million in Series D funding to support production of launch vehicles and spacecraft
Space Travel and Exploration Tech
Nov 12, 2024
Product updates
Vertical Aerospace launches Flightpath 2030 for its VX4 eVTOL aircraft
Passenger eVTOL Aircraft
Nov 12, 2024
Partnerships
Enveric Biosciences enters into licensing agreement with MycoMedica Life Sciences for EVM201 program
Psychedelic Medicine
Nov 12, 2024
Partnerships
Instacart partners with Coles Supermarkets to launch smart carts in Australia
Automated Stores
Nov 12, 2024
M&A
Snyk acquires Probely for undisclosed sum to enhance API security testing
Next-gen Cybersecurity
Nov 12, 2024
Last-mile Delivery Automation

Last-mile Delivery Automation

Nov 19, 2021

Flytrex raises USD 40 million in Series C funding

Funding

  • Flytrex, an Israeli drone delivery company, has raised USD 40 million in a Series C funding round led by BRM Group, with participation from OurCrowd, Lukasz Gadowski—founder and chairman of Delivery Hero, as well as existing investors Benhamou Global Ventures (BGV), Btov, and BackBone Ventures. The round brings the company’s total funds raised to USD 60 million.

  • The company intends to use the funds to expand operations across the US, enter into new partnerships with retailers and restaurants, and further develop its drone hardware and software.

  • The company is also nearing the Federal Aviation Administration (FAA)'s approval to start national-scale commercial operations beyond visual line of sight (BVLOS) — expected in H1 2022.

  • Reportedly, Flytrex has witnessed over a 10x increase in delivery order volumes since February this year and has completed “thousands of deliveries” to date.

<ul><li> Analyst QuickTake: The news comes in less than a year after Flytrex raised USD 8 million to scale operations in the US. Since then, the company has extended partnerships, including Walmart’s (May 2021), and teamed up with Brinker International (owner of restaurant brands Chili's, Maggiano's Little Italy, and It's Just Wings; October 2021) and El Pollo Loco (a chicken restaurant chain; June 2021), for more delivery trials in North Carolina and Southern California. These partnerships were facilitated by the FAA’s approval Flytrex received in May, allowing direct deliveries to customers’ homes within the visual line of sight (VLOS). Its peer startup, Zipline, was ahead of Flytrex to have started commercial deliveries in the US, earlier this week. </ul>

Contact us

Gain access to all industry hubs, market maps, research tools, and more
Get a demo
arrow
menuarrow

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.