Zipline, the drone delivery startup that specializes in medical supplies and blood, is now valued at $4.2 billion after raising $330 million in a Series F funding round. reta
The company, based in South San Francisco, was able to raise the funds despite a lack of higher valuations for most startup unicorns in the current market environment. Zipline's valuation has surged by 55% compared to two years ago when it was valued at $2.7 billion.
Zipline’s latest funding was confirmed by the company in a statement, where it said it had raised money from both new and existing investors. It added that it was “well capitalized to continue to grow our operations, including launching our new home delivery service.”
The startup has expanded into various countries, including Cote d’Ivoire, Japan, Kenya, Nigeria, Ghana, and Rwanda, where it first began deploying its drones in 2016. Recently, it announced a new autonomous drone, the P2 Zip, which can carry eight pounds of cargo at a range of 10 miles, targeting the e-commerce market.
Zipline's co-founders, Keller Rinaudo and Keenan Wyrobek, initially aimed to corner the medical supply market rather than retail goods. Its previous investors include Sequoia, Andreessen Horowitz, Slow Ventures, Katalyst Ventures, and GV, the venture firm of Google parent Alphabet, among others. With the latest funding, Zipline has raised over $900 million to date.