Scaling efforts by Italian cargo and heavy-lift drone developer FlyingBasket have received further lift with longtime strategic partner and European aviation and defense giant Leonardo assuming a direct equity stake in the Milan-based company.
The move by Leonardo strengthens and solidifies the backing of FlyingBasket as it works to scale its client base and industrial uses of it heavy-lift and cargo transporting drones. Entry of the Italian defense corporation will broaden the financial foundation from which FlyingBasket seeks to build its business across Europe. It will also provide valuable business management and growth strategy insights from Leonardo, which under the deal will take a spot on the startup’s board of directors.
Leonardo has provided the 2015-founded FlyingBasket with various forms of support in the early phases of its activity – including the first test flight of a heavy-lift drone over a major urban area in Italy at the end of 2021. It has also repeatedly used the fledgling firm as a specialized aerial services provider, even as Leonardo tested similar UAV technologies of its own.
Read: Italy’s FlyingBasket test heavy-lift cargo drone flights over Turin
But the considerable tightening of that relationship will now provide FlyingBasket access to the aviation and defense conglomerate’s vast infrastructure and technological assets. That’s expected to deepen and accelerate continued development of FlyingBasket’s FB3 cargo UAV, and create new and enhanced variations of the industrial capacity craft.
In exchange, Leonardo takes a 10% position in FlyingBasket ownership, alongside Italian venture capital fund Cysero and founders of the heavy-lift drone startup.
“The entry of Leonardo consolidates a relationship already developed over the years in which the know-how and network available to the company has enabled FlyingBasket’s growth,” said Moritz Moroder, CEO of FlyingBasket. “The path started will see further developments thanks to this initiative and confirms the interest of investors and industrial stakeholders in the project created in 2015 that aims to bring our innovative solutions to Italy and Europe to promote the values of sustainability and accessibility in the air transport sector.“
FlyingBasket has been offering regular commercial drone cargo transportation and diverse heavy-lift services with the FB3 since it was certified to do so by Italian authorities in 2020. The company later received what it says was the first authorization ever by Italy’s aviation authority to operate cross-border freight missions. Its clients include companies in construction, telecoms, logistics, energy, forestry, and – during the 2021 in any case – the national postal system.
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