Startup

World’s first cargo drone airline Dronamics flies away with €2.5M grant from EIC

Dronamics

Dronamics, a London-based cargo drone airline with a license to operate in Europe, has been awarded a €2.5 million grant by the European Commission under the prestigious European Innovation Council (EIC) Accelerator program.

Additionally, the EIC has also expressed a material commitment to support Dronamics’ upcoming Series A round. The announcement comes five months after EIC announced its investment in Nevomo, a Warsaw-based deep-tech company that’s developing the next generation of high-speed railways

Dronamics will use the grant to fund the development and roll-out of Dronamics’ cargo drone fleet, droneport network, and operations in Europe.

What does Dronamics solve?

The European Union (EU) is home to millions of people who live in territories that often take days to reach by traditional freight.

The UK company aims to democratise air freight by enabling affordable and sustainable same-day delivery for businesses and communities everywhere, especially remote and under-served ones.

“We are honored to receive this support from the European Innovation Council, which we see as a testament to the impact that cargo drone logistics can have on the European Union economy. 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,” said Svilen Rangelov, Co-Founder and CEO of Dronamics.

Dronamics was selected as one of the few to have been awarded funding by the EIC Accelerator program, which had nearly 1,000 candidates.

World’s first cargo drone airline

Founded by Konstantin Rangelov and Svilen Rangelov, Dronamics is the world’s first cargo drone airline.

Аs a developer and operator of large, long-range drones built specifically for cargo, the Dronamics’ flagship Black Swan can carry 350 kg (770 lb) at a distance of up to 2,500 km (1,550 mi) up to 80% faster, 50% cheaper and with up to 60% lower emissions than alternative modes of transport, including airfreight.

Black Swan enables same-day shipping over very long distances for various industries: from pharma to food, from e-commerce to spare parts.

The post World’s first cargo drone airline Dronamics flies away with €2.5M grant from EIC appeared first on Tech Funding News.

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