Dronamics, the world's first cargo drone airline with license to operate in Europe, has raised a total of $40 million in pre-Series A funding from venture capital funds and angel investors from 12 countries as the company approaches its upcoming...
To read the full article, please log in or enter your email below:
Dronamics, the world's first cargo drone airline with license to operate in Europe, has raised a total of $40 million in pre-Series A funding from venture capital funds and angel investors from 12 countries as the company approaches its upcoming Series A round.
The amount includes funds received from Founders Factory, Speedinvest, Eleven Capital, and most recently the Strategic Development Fund (SDF), the investment arm of the Tawazun Council, Abu Dhabi, United Arab Emirates.
"The investment from SDF, Founders Factory, Speedinvest, and Eleven Capital is a strong validation of our goal to bring our cargo drone solution to more people and businesses around the world," said Svilen Rangelov, co-Founder and CEO at Dronamics. "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."
SDF venture capital division's investment in Dronamics funding is a step in the creation of a UAE-based joint venture that will expand Dronamics capacity and support the future establishment of Dronamics' operations in the UAE as one of the main hubs for the Middle East and North Africa region. SDF shall, through the establishment of a manufacturing and operations JV, become a main partner in the UAE-based joint venture with additional significant investment.
"SDF looks at investing in aerospace and mobility companies that can improve movement of humans and cargo autonomously in a sustainable and cost effective manner," said Abdulla Naser Al Jaabari, Managing Director and CEO of SDF. "When it comes to Dronamics, their economics are very promising and potential users of Dronamics would benefit from quick and efficient cargo deliveries. As one of Dronamics' latest strategic investors, SDF will be working closely to support the ongoing growth of the company through the UAE and globally."
The $40 million is in addition to the €2.5 million ($2.7 million) grant Dronamics was awarded by the European Commission under the selective deep-tech European Innovation Council (EIC) Accelerator program, and the EIC's material commitment to support Dronamics' Series A round with another €12.5 million ($13.45 million) in equity investment.
Danish defence and aerospace company Terma has introduced the SCANTER Sphera, a new 3D radar system developed for counter-drone operations,…
New Horizon Aircraft, developer of one of the world's first hybrid eVTOL aircraft, has achieved full wing transition of its…
Indra has introduced its latest development, the VALERO weapon system, at the FEINDEF defence exhibition. Designed entirely in Spain, VALERO…
Rheinmetall Landsysteme GmbH, a subsidiary of Rheinmetall AG, and Indra have signed a Memorandum of Understanding (MoU) to collaborate on…
Boeing has announced a new order from AviLease, a global aircraft lessor based in Saudi Arabia, for 20 737-8 aircraft,…
Construction has begun on Changi Airport Terminal 5 (T5), a major expansion project that is expected to significantly increase Singapore’s…
The Typhoon 30c Remote Weapon Station, developed by Israel's Rafael, was recently demonstrated in the U.S to an enthusiastic audience.…
The Israeli Air Force (IAF) has requested the purchase of the Lockheed Martin-made Air-to-Surface Standoff Missiles (JASSM). The missile is…
A German space start-up has completed its first orbital test of a new heat shield concept, potentially marking a shift…
Scoot, the low-cost subsidiary of Singapore Airlines, is ramping up its flight frequencies and increasing passenger capacity across its Asia-Pacific…
Bangkok Airways Public Company Limited and PTT Oil and Retail Business Public Company Limited (OR) have signed a Letter of…
Deutsche Aircraft has selected American Data Solutions (ADS) to provide technical publication management solutions for its next-generation regional turboprop, the…
Mongolia's Hunnu Air has commenced scheduled services using the Embraer E195-E2 aircraft, with its inaugural flight from Ulaanbaatar to Beijing…
The Philippines and South Korea are reportedly close to finalising an agreement for the acquisition of 12 additional FA-50PH Block…
Malaysia's Lumut Naval Shipyard (LUNAS) has confirmed that the second vessel in the Royal Malaysian Navy’s Maharaja Lela-class Littoral Combat…
New Horizon Aircraft, developer of one of the world's first operationally-focused hybrid-eVTOL (electric Vertical Take-Off and Landing) aircraft, announced that…
Rheinmetall and ICEYE signed a memorandum of understanding (MoU) on 8 May 2025, to establish a joint venture (JV) focused…
FLUX GmbH, a Germany-based manufacturer of high-precision encoders, has appointed SEUM Tronics as its distribution partner in South Korea as…
Korean Air and Delta Air Lines will acquire minority stakes in Canadian carrier WestJet, further deepening their respective partnerships with…
The Singapore Airlines (SIA) Group has signed separate agreements with renewable fuel producers Neste and World Energy to purchase Sustainable…
The UK’s Military Aviation Authority has issued a Military Type Certificate to the Royal Air Force’s Protector RG Mk1 uncrewed…
In a decisive escalation of hostilities, India Thursday struck key Pakistani air defence systems in response to a major overnight…
thyssenkrupp Marine Systems has signed a contract with Singapore’s Defence Science and Technology Agency (DSTA) for the construction of two…
Terma and Lockheed Martin have signed a Memorandum of Understanding (MoU) aimed at expanding their cooperation across defence and aerospace…
HENSOLDT has concluded a second round of data collection as part of the European research and development initiative STORE (Shared…
The Emirates Group has reported its strongest financial performance to date for the year ending 31 March 2025, with record…
The Indian Navy is participating at the ongoing IMDEX with its Anti-Submarine Warfare Corvette INS Kiltan, which is part of…
Israeli firm DSIT Solutions Ltd. (DSIT) launched an advanced version of its PointShield System, for detection of manned and unmanned…
Saab Australia (Saab) and ST Engineering have entered into a teaming agreement at the ongoing IMDEX to deliver deployable health…
ST Engineering announced at the recent IMDEX that it has been awarded contracts by MINDEF to deliver a Suite of…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2025 GBP all rights reserved.