Wingcopter receives 42 million US dollars

Demand for Wingcopter's drones has exploded. The start-up wants to use the capital from the financing round to increase its production capacities.

Wingcopter has expanded its Series A by a further 42 million US dollars. New investors include the Rewe Group, Salvia, Xai Technologies and Itochu. The existing investors Itochu, Futury Capital and Xplorer Capital also participated. The financing round has increased the start-up's total valuation to 60 million US dollars.

Only recently, the US Federal Aviation Administration (FAA) certified the airworthiness of Wingcopter's drone 198 - the financing round also came about as part of the certification process. "The new funding, combined with growing sales, puts us in an excellent position to establish our industry-leading drone delivery solution with our customers around the globe and optimize supply chains," says Wingcopter co-founder and CEO Tom Plümmer.

Wingcopter plans to use the fresh capital to expand its drone delivery services globally and increase its production capacities. According to the company, it has already exhausted its capacity for the next two years due to high demand - even though it can produce thousands of drones a year at its site in Weiterstadt. The start-up also wants to hire 80 new employees in all departments in the coming months and expand its research into new product features.