Dronamics, a company making autonomous cargo drones, has landed $40m (£33.5m) in pre-Series A capital from investors including Founders Factory and Speedinvest.
The London-based company is developing the Black Swan drone, designed to carry cargo weighing up to 350kg over ranges of up to 2,500km. Dronamics is targeting the same-day, long-distance delivery market for industries ranging from pharma to ecommerce.
Investment also came from Eleven Capital, the Strategic Development Fund (operated by the Tawazun Council in Abu Dhabi) and angel investors.
“Their confidence in Dronamics confirms the strength of our business model and we are excited to continue growing and achieving success with the support of our investment partners,” said Svilen Rangelov, co-Founder and CEO of Dronamics.
The company said its Black Swan craft is the first to receive a cargo drone airline licence. A Dronamics spokesperson told UKTN that the company is developing hydrogen solutions, with the plan to eventually use hydrogen fuel to power its drones.
SDF and Dronamics are looking to establish a UAE joint venture to establish operations in the Middle East and North Africa.
Abdulla Naser Al Jaabari, managing director and CEO of SDF, said: “When it comes to Dronamics, their economics are very promising and potential users of Dronamics would benefit from quick and efficient cargo deliveries.”
“SDF will be working closely to support the ongoing growth of the company through the UAE and globally.”
Other firms that are exploring the potential of drones include BT, which is trialling hydrogen-powered drones to supply mobile internet coverage.
The post Dronamics delivered £33.5m for autonomous cargo drones appeared first on UKTN | UK Tech News.
