The investment community continues to show their faith in the future of drone delivery. Drone Delivery Canada (DDC) announced that it has closed a financing deal for about C$10 million (about $7.5 million USD.
The deal follows the recent announcement of DDC’s development of a large cargo drone, introduced last month. The single-rotor vehicle, called the Condor, offers a payload of 400 pounds and can travel up to 124 miles on a tank of gas.
Tony Di Benedetto, CEO of Drone Delivery Canada, commented about the new drone last month:
DDC have also been instrumental in proving the safety case for drone delivery, participating with the Drone Integration Pilot Program as partners in delivery to the Moose Cree First Nation.
Drone Delivery Canada (DDC) issued 8.35 million units priced at C$1.20, underwritten by GMP Securities, Canaccord Genuity and Echelon Wealth Partners.
From their recent press release:
“Drone Delivery Canada is a drone technology company focused on the design, development and implementation of its proprietary logistics software platform utilizing drones. The Company’s platform will be used as Software as a Service (SaaS) for government and corporate organizations.”
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