Middle-mile drone delivery specialist Dronamics is revving up its push to prepare aerial transport services with an upcoming round of fundraising that has already received a $2.6 million head start grant from the European Commission’s European Innovation Council (EIC) Accelerator program.
The $2.6 million grant from the EIC seeks to support Dronamic’s efforts to assemble a fleet of its proprietary Black Swan drones to operate middle-mile drone deliveries – initially in Europe – and establish a network of airports and logistics centers to cover the continent. The European Union (EU) is the executive arm of the European Union, and the EIC is its unit promoting companies developing promising new technologies and services.
In awarding its grant, the EIC also said it would extend what Dronamics described as “material commitment” to its planned Series A round of fundraising that, among other things, will prime the pumps for the launch of its middle-mile drone delivery activity. The company provided no further information on when that would take place, or what other backers may be involved.
Its plan to generate increased financing is the most recent development in what have been a very eventful 2022 for Dronamics’ business thus far.
It also moved to establish suppliers and production facilities for its Black Swan autonomous aircraft, and of late has been striking deals with tech specialists to reduce its carbon output – including a link-up earlier this month involving hydrogen fuel cell development.
Dronamics Black Swan drones are designed for middle-mile clients who currently have to wait days or even weeks for delivery by road transport.
The UAVs can carry maximum payloads of 770 pounds over ranges of 1,550 miles at top altitudes of 2,000 feet, and at full speeds of 125 mph. That range made Dronamics a natural partner for Scotland’s project to develop what the country’s health care officials say will be the first nationwide medical drone network in the world.
The company’s strategy of specializing in middle-mile drone destinations and customers under-served by traditional delivery providers was a major reason behind the EIC’s decision to award Dronamics with its grant – and one it CEO Svilen Rangelov welcomed on several levels.
“We are honored to receive this support from the European Innovation Council, which we see as testament to the impact that cargo drone logistics can have on the European Union economy at large,” Rangelov. “We will use this grant to establish our European operations and keep bringing innovation to help elevate communities and businesses using breakthroughs in aviation and technology that will revolutionize air cargo mobility.”