Half Moon Bay-based drone-delivery startup Zipline raises $190 Million, valuation crosses over $1.2 Billion

Key Highlights

Zipline raises $190 Million in venture funding.

Zipline valuation reaches $1.2 billion.

Zipline aims to set up delivery hubs at 2,600 health facilities in Rwanda and Ghana by the end of 2019.

Drone delivery business is enhancing at a great pace as each and every aspect of life is becoming automatic. Now folks have developed several technologies that are capable of doing tasks that humans are not able to do. Various startups are also emerging in this domain.

Zipline has also emerged as a helping hand for people in need as it offers lifesaving medical supplies to thousands of rural clinics by its drones. It is one of the most tested drone delivery services in the world. It has recently raised $190 Million in venture funding and attained a $1.2 billion valuation from its investors. It has raised the fund from Temasek, Alphabet’s investment arm GV, TPG’s global impact fund, The Rise Fund, and Katalyst Ventures. By these funds, the valuation of Zipline has reached over $1 Billion. Zipline is planning to use raised funds to expand its medical supply delivery services across Africa, Southeast Asia, America, and South Asia. The company focuses to serve 700 million people with its drones within the next five years.

Zipline came into existence in 2011 by William Hetzler and Keenan Wyrobek. Zipline aims to set up delivery hubs at 2,600 health facilities in Rwanda and Ghana by the end of this year.

Zipline chief executive Keller Rinaudo said in a statement that, “There is a growing feeling around the world that technology is not benefitting the vast majority of people. The old conventional wisdom has been that crafting a successful technology company needs exploiting people’s personal information or hijacking their attention. Zipline wishes to build a new model for success in Silicon Valley by showing the world that the right technology company with the right mission and the best team can help improve the lives of every person on the planet.” Zipline’s drones have a range of 160 kilometers, a cruising speed of 110 kilometers per hour, and can carry 1.75 kilograms of cargo.

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