Flytrex raises $40M to offer drone delivery across US suburbs

Flytrex drone delivery

On-demand drone delivery service Flytrex has raised a $40 million Series C funding round to ramp up expansion throughout the US suburbs and advance partnerships with leading retailers and quick-service restaurants.

Flytrex’s delivery drones can carry a 6.6-pound payload (the equivalent of six to eight hamburgers) for a distance of 3.5 miles and back at a speed of up to 32 mph.

The Israeli startup, which has raised $60 million in total funding to date, has most recently launched its third drone delivery station in North Carolina. The company further claims that the volume of its food delivery orders across North Carolina has increased more than tenfold since February 2021.

Envisioning a future where drone delivery is the rule rather than the exception, Yariv Bash, CEO and cofounder of Flytrex, says:

On-demand drone delivery has skyrocketed since the pandemic began and is becoming much more mainstream, much faster than expected. We’re excited to continue working with the FAA, the North Carolina Department of Transportation, and others to bring swift, affordable, and sustainable on-demand drone delivery to more partners, communities, and consumers across the country.

Also read: This holiday season, Wing drones will deliver Christmas cheer in Australia

The company’s latest funding round was led by BRM Group with participation from OurCrowd, Lukasz Gadowski (founder and chairman at Delivery Hero), and includes existing investors Benhamou Global Ventures (BGV), btov, and BackBone Ventures.

Eran Barkat, partner at BRM Group, comments:

We are committed to supporting companies that have the potential to change people’s lives for the better, and Flytrex’s impact on retailers and consumers alike fits that mission perfectly. Drones are playing a key role in revolutionizing last mile delivery for communities around the world, and we are thrilled to support the Flytrex team as they take the future of food and household delivery to new heights.

Read more: Amazon’s French drone delivery R&D center has been disbanded: report

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