Volansi, Inc., a San Francisco, CA-based provider of vertical take-off and landing (VTOL) middle-mile drone delivery services, closed a $50m Series B round of funding.
The round was led by Icon Ventures, with participation from existing investors Lightspeed Venture Partners and YCombinator as well as new investors Harpoon Ventures and Merck Global Health Innovation Fund. In conjunction with the funding, Joe Horowitz, managing partner of Icon, and Barry Eggers, founding partner of Lightspeed, will join Volansi’s Board of Directors.
The company intends to use the funds to expand its team, launch new projects and scale current initiatives in both emerging markets and in the US.
Led by Hannan Parvizian, CEO and Co-Founder, Volansi provides automated point-to-point drone delivery services for time-critical parts and urgent medical supplies for for commercial, defense, and humanitarian applications.
With $25m of prior capital provided by Lightspeed and other investors, the company developed and brought to market autonomous drones, including the VOLY M20 and VOLY C10. The VOLY C10, the workhorse of Volansi’s UAV fleet, carries up to 10-pounds of cargo over 50 miles. The aircraft has already performed operations in Africa, the Caribbean, and the US. The VOLY M20, is a dual role aircraft with the ability to simultaneously carry up to 20-pounds of cargo in addition to 10-pounds of sensor payloads. It has a 350-mile range, a cruising speed of 75 mph, and more than eight hours of endurance for sensor operations.
FinSMEs
15/09/2020