Wingcopter, a German startup specializing in delivery drones for remote areas worldwide, has received €40 million in funding from the European Investment Bank. The company will use the resources to improve production processes and logistics. This brings Wingcopter’s total funding to €100 million, including previous investments from financial and strategic lenders such as REWE, Xplorer Capital, ITOCHU and Expa. This doubles Wingcopter’s previous valuation, which the company did not previously disclose.
Wingcopter’s delivery drones have already been deployed on small-scale missions, such as delivering medicines in hard-to-reach areas in Malawi in collaboration with UNICEF. The company plans to expand these services to more areas, with partnerships in Africa, Asia and Latin America. Wingcopter also has plans to build a hydrogen-powered model with more range.
The German government has approached the company about joining a fleet of drones to be sent to Ukraine to help defend the country against Russia. However, Wingcopter declined the offer, saying it never wants to deploy its drones in combat situations. The company is exploring the possibility of supplying goods to conflict-affected areas once fighting has ceased.
Wingcopter’s fundraising is critical to the VTOL (vertical take-off and landing) space, with other companies such as Zipline and Flytrex also raising significant funding. Wingcopter’s drones reduce traffic and emissions from delivery vehicles, and promote the development of clean energy systems, such as hydrogen. The company plans to build its own logistics and delivery backend to manage services and interoperate with fleets and any other device that makes sense for deliveries.
