Drone delivery startup, Zipline, has raised $250 million in new funding, raising its valuation to $2.75 billion.
Investors who took part in this round of funding include Baillie Gifford, Temasek and Katalyst Ventures, Fidelity, Intercorp, Emerging Capital Partners, and Reinvest Capital.
According to the firm, they will use the funding to further expand their logistics networks in Africa and the United States. They will also use the funding w to build out infrastructure for new service contracts for four new distribution centres in Ghana and five in Nigeria, and other service contracts with hospital systems in the United States.
The company, which launched in 2014, designs and manufactures unmanned drones, logistics software, and accompanying launch and landing system. Zipline first made a name for itself in Rwanda and then in Ghana, where it delivered blood, vaccines, medications and other essential supplies using the autonomous electric drones.
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