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US Army awards Elroy Air $46M for heavy-lift drone

Elroy Air Chaparral us army contract

Heavy-lift drone developer Elroy Air has secured a major vote of confidence from the US Army. The California-based company announced it has been awarded a $46 million multi-year contract to further develop its autonomous hybrid-electric VTOL (vertical take-off and landing) cargo drone, with the goal of making it more capable of supporting troops in some of the military’s toughest operating environments.

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Elroy Air eyes Nasdaq debut with $1 billion valuation

elroy air cargo drone nasdaq

Autonomous cargo drone maker Elroy Air is preparing for its next big chapter. The California-based company has announced plans to go public through a merger with a special purpose acquisition company (SPAC), giving it the funding needed to ramp up production of its heavy-lift Chaparral drone for both military and commercial customers.

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Elroy Air raises $4.6 million for cargo delivery drone

Elroy Air, a San Francisco, California-based cargo drone start-up company announced that is has raised $4.6 million in funding. The cargo drones, Elroy Air is planning to produce, will be capable of transporting up to 150 pounds of cargo for up to 300 miles. Most of the funding came from Levitate Capital, Homebrew, Shasta Ventures, and Lemnos, according to Quartz.


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