Zipline got its start delivering medical supplies using drones in Rwanda and Ghana. The company is vertically integrated, which means it designs and manufactures the unmanned drones, logistics software and the accompanying launch and landing system.
This latest round has lifted the company's valuation to $2.75 billion and will fuel the further expansion of its logistics networks in Africa and in the United States. In the U.S., the company partnered with Novant Health to deliver medical equipment and personal protective gear to North Carolina and notably with the retail giant Walmart to deliver health and wellness products.
“The fact that so many big companies like Toyota and Walmart are starting to make big bets in this instant logistics space, I think is a pretty clear sign that people realize this is coming” Zipline CEO Keller Rinaudo by Aria Alamalhodaei for TechCrunch
The company is currently working with the Federal Aviation Administration to move from operating under an emergency waiver granted by regulators during the pandemic to a full commercial operating certification.
Ding Dong Goes Public
Ding Dong, gained a market value of $ 5.5B after its IPO on Tuesday. This is more than double the value of Tencent-backed rival Missfresh. The CEO, Liang Changlin, says that he plans to use the proceeds from the IPO to expand the company in China and to invest in technology and talent.
Ding Dong operates in 29 cities in China, with a monthly average of 6.9 million users. In May, SoftBank invested $330 million, following a $700 million investment a month earlier of Sequoia Capital and others.
Please note that this article does not constitute investment advice in any form. This article is not a research report and is not intended to serve as the basis for any investment decision. All investments involve risk and the past performance of a security or financial product does not guarantee future returns. Investors have to conduct their own research before conducting any transaction. There is always the risk of losing parts or all of your money when you invest in securities or other financial products.