Zipline has successfully raised $190 million in a single funding round, achieving a valuation of $1.2 billion. The company specializes in autonomous, electric drone delivery solutions, serving sectors like healthcare, retail, and public health services.
Keep reading to explore the intricacies of Zipline's fundraising journey and the investors backing this innovative platform.
What Is Zipline?
Zipline, founded in 2016 by Keenan Wyrobek and Keller Rinaudo, designs, manufactures, and operates the world’s largest drone delivery service. The company uses autonomous, electric drones to deliver goods such as medical supplies, vaccines, and e-commerce items.
With a mission to create a logistics system that serves all humans equally, Zipline operates in sectors like healthcare, retail, and public health services. The company has a global presence, providing fast and precise delivery solutions.
Headquartered in an undisclosed location, Zipline employs between 501 and 1000 people, continually expanding its reach and impact across various industries.
How Much Funding Has Zipline Raised?
- First Close (2018)
- Amount Raised: Part of the $190 million total
- Date: 2018
- Motivation Behind the Round: To expand its medical supply delivery services
- Second Close (Earlier in 2019)
- Amount Raised: Part of the $190 million total
- Date: Earlier in 2019
- Lead Investors: The Rise Fund
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To expand its medical supply delivery services across Africa, the Americas, South Asia, and Southeast Asia, and to start pilot programs in the U.S.
- Series D Round
- Amount Raised: $190,000,000
- Date: April 9, 2019
- Lead Investors: TPG Capital, Baillie Gifford, GV (formerly Google Ventures), Katalyst Ventures, Temasek, BoxGroup, VTF Capital, Angel Investors: Dave Morin, Konstantin von Unger
- Valuation at Round: $1.2 billion
- Motivation Behind the Round: Scaling operations, expanding into new markets, and further developing their technology and logistics systems to serve their mission of creating a global logistics system that serves all humans equally.
Total Amount Raised: $190,000,000
Current Valuation: $1.2 billion
Key Investors
- The Rise Fund
- Details: The Rise Fund is a global impact investment vehicle managed by TPG. It focuses on achieving measurable social and environmental outcomes alongside competitive financial returns.
- Investment Focus Areas: Education, healthcare, financial services
- Notable Investments: EverFi, DreamBox Learning, Dodla Dairy
- Baillie Gifford
- Details: Baillie Gifford is an investment management firm based in Edinburgh, Scotland. It is known for its long-term growth investment strategy.
- Investment Focus Areas: Technology, healthcare, consumer goods
- Notable Investments: Tesla, Amazon, Alibaba
- GV
- Details: GV, formerly known as Google Ventures, is the venture capital investment arm of Alphabet Inc. It provides seed, venture, and growth-stage funding to technology companies.
- Investment Focus Areas: Technology, life sciences, artificial intelligence
- Notable Investments: Uber, Slack, Nest
- Temasek
- Details: Temasek is a global investment company headquartered in Singapore. It manages a net portfolio of over $300 billion.
- Investment Focus Areas: Financial services, telecommunications, technology
- Notable Investments: Alibaba, Airbnb, Gojek
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Facebook, Spotify, Uber
What's Next for Zipline?
Zipline's future is brimming with opportunities, particularly in expanding its medical supply delivery services across Africa, the Americas, South Asia, and Southeast Asia. With the potential to serve 700 million people within the next five years, the company is also eyeing the U.S. market, starting with pilot programs in North Carolina.
Given its recent successful funding round, Zipline is well-positioned for future fundraising to support further expansion and technological advancements. However, the company will face challenges such as fierce competition, regulatory hurdles, and logistical issues in scaling operations to meet its ambitious goals.
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