wp-plugin-hostgator
domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init
action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114ol-scrapes
domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init
action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/05\/10\/wingcopter-drone-delivery-startup-eib\/<\/a><\/br> Wingcopter<\/a>, a startup out of Germany that has made a name for itself in the world of delivery drones used primarily for delivery of medicine and other goods to remote areas, has picked up some more financing to expand its business. The European Investment Bank is putting \u20ac40 million (close to $44 million) into the startup, funding that it will use in two areas: further developing its hardware line; and to kick off a new business in logistics and delivery services, anchored by a fleet of its drones.<\/p>\n The funding is being described as \u201cquasi-equity\u201d \u2014 and it\u2019s a common approach taken by the EIB (other examples here<\/a> and here<\/a>) that involves one portion of the funding coming in as equity and the rest as a venture loan. Tom Pl\u00fcmmer, Wingcopter\u2019s CEO and co-founder, would not disclose the proportions of either in an interview. He said the plan is to raise a significant Series B next year \u2014 or whenever the markets turn around.<\/p>\n For now, this latest infusion brings the total raised by Wingcopter to \u20ac100 million, which has also been backed in two<\/a> previous fundraises<\/a> by a mix of strategic and financial backers such as the retail giant REWE, Xplorer Capital, Japan\u2019s ITOCHU and Expa, the investment firm started by Garrett Camp of Uber.<\/p>\n And it more than doubles Wingcopter\u2019s previous valuation \u2014 a figure that it is not disclosing, either. But if you consider that its bigger U.S. counterpart Zipline last month raised $330 million at a valuation of $4.2 billion<\/a>, Wingcopter clearly sees the opportunity in the market \u2014 and given it has raised only around one-tenth the amount overall, where it likely is right now.<\/p>\n
\nWingcopter, Germany\u2019s drone delivery startup, raises another $44M from the EIB<\/br>
\n2023-05-11 22:27:41<\/br><\/p>\n