German Drone Manufacturer Raises $22 Million to Develop New Technology — and Expand Business to the US

By Jemima McEvoy Monday, January 25, 2021

Wingcopter has raised $22 million in a Series A fundraising round. The German drone technology startup has big plans to use this money for potential global expansion and the development of new, innovative products. Here’s everything you need to know about this company and why it’s catching the eyes of investors.

Farmer using a tablet to direct agriculture technology.

What Is Wingcopter?

This startup (Wingcopter GmbH) was founded in 2017 by entrepreneurs Jonathan Hesselbarth, Tom Plummer, and Ansagar Kadura. The company created the hardware for — and now sells — heavy-duty drones that can fly up to 75 miles at speeds of up to 100 mph, carrying loads of around 13 pounds.

These drones can take off, fly, and land in significantly harsher conditions than other drones can. In fact, the company’s signature drone won a Guinness world speed record for remote-controlled tilt-rotor aircraft in 2018. This technology startup has partnered with humanitarian organizations to deliver critical supplies, as well as commercial businesses. In other words, the possibilities of this business are endless.

Money and Investors

The three-year-old startup company’s fundraising starts and ends with this Series A funding round, whose close was announced in January, according to Crunchbase. However, Plummer told TechCrunch that his drone technology business is in talks with potential investors already interested in the startup for a Series B round.

This $22 million cash injection in the burgeoning business was led by Silicon Valley venture capital firm Xplorer Capital and German-based growth fund Futury Regio Growth.

Future Business Growth

This company has already earned widespread recognition for its work, and now it’s just a matter of time and money before the drone technology startup’s reputation — and influence — spreads. The business’s founders told TechCrunch that it is assessing the United States (US) market with a plan to expand there.

Furthermore, the drone technology business has plans to begin offering a drone delivery-as-a-service, which is an innovative way to broaden its client base. The startup will also continue to develop hardware, which has been integral to its success thus far and is planning on releasing a new drone model soon with different capabilities to expand the evolution of the business.

Final Takeaways

There are many reasons why the momentum of this company is just getting started. The drone technology startup has already demonstrated flexibility and broad application, which is a massive positive sign. Furthermore, investors appear to be enthusiastic about what this business is working on. The company has copious plans for the future and has refused to stagnate or become complacent about its technology. This is certainly a startup to watch.

About the Author

Headshot for author Jemima McEvoy

Jemima is a journalist who enjoys reporting on business, particularly small business and entrepreneurship.

Related Articles