Jul 1, 2021 - Economy

Zipline raises $250 million at $2.75 billion valuation

A present flying in the sky.

Illustration: Sarah Grillo/Axios

Zipline, a San Francisco drone delivery service best known for medical supply drops in Africa, raised $250 million at a $2.75 billion post-money valuation.

Why it matters: This comes as Zipline plans to expand into the U.S., via a pilot program whereby it will deliver medications and other health products ordered via Walmart. Or, put another way, Zipline is actually doing what Amazon has spent years promising to do.

Investors include Katalyst Ventures, Baillie Gifford, GV, Temasek, Goldman Sachs and The Rise Fund.

The bottom line: "The company is vertically integrated, meaning it designs and manufactures the unmanned drones, the logistics software, and the accompanying launch and landing system." — Aria Alamalhodaei, TechCrunch

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