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Medical Drone Delivery Startup Zipline Raises $190 Million In Funding
Healthtech, Smart Cities
Healthcare drone delivery startup Zipline has raised $190 million in a new round of funding, taking its valuation to over $1 billion. The new funding will be used to further expand its reach across Africa, South Asia, Southeast Asia and the Americas. Zipline operates autonomous drones across remote areas that are hard to reach by road, airlifting medicines during emergencies.
The investment round saw the participation of previous investors Katalyst Ventures, Temasek, GV, Baillie Gifford, Bright Success Capital, Goldman Sachs Group GS 0.97%, Oakhouse Partners, Toyota Tsusho Corp., the Design to Improve Life Fund, with equity firm TPG’s Rise Fund joining in as a new investor. The fundraiser was split across two phases, with $70 million flowing in 2018 and the rest coming in early this year. Since its inception in 2014, Zipline has raised a total of $225 million.
Read more at Benzinga.