Arrive, a drone delivery mailbox manufacturer formerly known as Dronedek, says it has raised more than $1.3 million from 428 investors. This is the second time the Indianapolis-based company’s crowdfunding campaign has brought in more than $1 million.
Arrive says it now has nearly 5,000 individual investors who have helped the company raise more than $9 million in its fundraising efforts since the company’s inception in 2014 as Dronedek.
Arrive manufactures secure, temperature-controlled mailboxes capable of accepting both traditional mail and food/package deliveries through drones. These mailboxes can keep packages hot or cold; alert users to package arrivals or pickups; recharges drones and other electrical devices; and in times of need, can even serve as an alert to emergency response services.
Along with its recent rebranding, Arrive has positioned itself as a mailbox-as-a-Service (MaaS) platform. The company is preparing for a public offering in early 2024 for which it has already secured the Nasdaq ticker symbol: ARRV.
Speaking about the latest funding round that closed on July 7, Dan O’Toole, CEO of Arrive, says, “This demonstration of support for our product is really important as we get closer to distribution. We’ve been working steadily for the past nine years, hitting all our targets and constantly iterating as the industry advances. We’re more than ready to be out there in the field.”
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