AngelList is a popular website for technology start-ups looking to raise equity or debt financing from accredited investors. Of the 36,000 companies seeking financing on AngelList, 23 companies are self-categorized as “Drone-Tech.” Today, we profile one of these companies, MATTERNET.
MATTERNET is a Silicon Valley start-up focused drone delivery technology funded by the VC firm Andreessen Horowitz and a series of individual investors to the tune of $500,000. AngleList has Matternet raising $1,000,000 with a 15% discount to Institutional Funding Series A funding. The most active company in the Drone category on AngleList, Matternet reaped great exposure from Jeff Bezos’ 60 Minutes introduction of the Prime Air concept.
Here’s how the Company defines itself on AngelList:
” Matternet is a 21st century transportation system that will transform the way we move goods locally. Matternet is creating an automated delivery network for goods, built on a network of Unmanned Aerial Vehicles (UAVs) operating autonomously (without human intervention) coordinated with a proprietary software platform. Matternet’s initial vertical is the $1 Billion pharmaceutical delivery market in areas inaccessible by traditional infrastructure. We are developing a 3-part system comprising a UAV with a specially-designed frame, a landing station able to handle automatic load and battery swap and a cloud OS that runs the network. These 3 products are integrated into a tight system that makes it easy for anyone to set up an aerial transportation link or network.”
Matternet was founded by CEO Andreas Raptopoulos, an aeronotics egineer and Chief Regulatory Officer, Paola Santana, Chief Regulatory Officer who is also a Fulbright Scholar. Notable in joining Andreessen Horowitz is Fadi Ghandour, Founder and CEO of Aramex, a leader in
global logistics and transportation solutions.
Here’s CEO Andreas Raptopoulos in a June 2013 TedTalk, “No roads? There’s a drone for that”