Drone delivery company Zipline has raised $330m in a new funding round at a valuation of $4.2bn, reported Forbes, citing documents and sources.
Last month, the US-based firm disclosed a Series F investment round of that magnitude that priced Zipline at $40.20 per share in a document filed in Delaware.
With the investment, Zipline saw its valuation jump by 55% in comparison with it $2.7bn valuation it reached in 2021 after raising $250m.
According to one of the sources, Zipline’s exact amount raised may still change because the filing also included a Series F-1 extension of up to $20m, which could be included in the deal.
While Zipline did not provide any details about the investors in the filing it did confirm the new funding.
“We recently closed our Series F funding round at an increased valuation, which involved several new and existing investors. We are well capitalised to continue to grow our operations, including launching our new home delivery service,” the company to the publication.
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The firms existing investors include Sequoia, Andreessen Horowitz, Katalyst Ventures, GV, Pactolus Ventures, Emerging Capital Partners, and Reinvent Capital.
Recently, the company launched a new autonomous drone, called Platform 2, which can carry payloads of up to ten pounds and has a range of ten miles.
It has also formed partnerships with Sweetgreen, Michigan Medicine and several others.
Zipline, which awaits further regulatory approval for US operations, began deploying its autonomous delivery drones in 2016 in Rwanda.
In the early months of the pandemic, the company also delivered medical supplies to African nations.