Flytrex, a Tel Aviv, Israel–based leader in on-demand drone delivery for food and retail, raised $40m in Series C funding round, bringing its total funding to date to $60m.
The round was led by BRM Group with participation from OurCrowd, Lukasz Gadowski, Founder and Chairman at Delivery Hero, and includes existing investors Benhamou Global Ventures (BGV), btov, and BackBone Ventures.
The company intends to use the funds to ramp up expansion throughout the US and advance partnerships with retailers and quick-service restaurants (QSRs).
Led by Yariv Bash, CEO and Co-Founder, Flytrex is a business-to-consumer autonomous delivery service that lets retailers and quick-service restaurants (QSRs) serve customers in suburban areas by offering fast delivery using its commercial-aviation grade drones and cloud systems.
The round follows several key launches and expansions. Most recently, Flytrex launched its third drone delivery station in North Carolina, delivering food orders from restaurants and chains at the Holly Springs Towne Center to residents’ backyards – including from It’s Just Wings®, Brinker International’s virtual brand available from Chili’s® Grill & Bar and Maggiano’s Little Italy®. The company has been operating in NC since September 2020, beginning in Fayetteville, delivering groceries and household items as well as restaurant orders to select customers – and has since expanded its service to the town of Raeford. Since February 2021, the volume of orders across its North Carolina operations has increased more than tenfold, with thousands of deliveries to date.
Since launching its autonomous urban drone delivery system in Reykjavik, Iceland in 2017, Flytrex has been helping drive regulatory advances aimed at getting drone delivery off the ground. Flytrex participated in the Federal Aviation Administration’s UAS Integration Pilot Program (IPP) which concluded in October 2020, and continued in the FAA’s subsequent initiative, BEYOND, to work with the North Carolina Department of Transportation to help tackle the remaining challenges of UAS integration.
FinSMEs
19/11/2021