Zipline hits $21.5B valuation as Walmart expands bet on drone delivery

Summary

• Zipline raised $1.5 billion in funding led by Paradigm, WCM Investment Management, & Layer Global, with participation from Valor Equity Partners, Fidelity Management & Research Company, Uber, Tiger Global, J.P. Morgan, ARK Invest, & Salesforce Ventures.
• The company's valuation is now $21.5 billion.
• Zipline & Walmart signed a new multi-year agreement to expand drone delivery sites from 21 to 300 across the United States.
• Zipline plans to use the raised funds to expand U.S. manufacturing facilities & hire more workers to build a nationwide drone delivery network.
• The company received Part 135 air carrier certification from the Federal Aviation Administration in 2022, authorizing long-range commercial drone deliveries.
• Zipline delivers food, retail, agricultural, & health products in five African countries, several U.S. cities, & Japan.
• Zipline's Platform 2 drones carry up to eight pounds within a 10-mile radius for home delivery.
• Zipline's Platform 1 drones cover 120-mile round trips for enterprise, business, & government long-range deliveries.
• Zipline's share of delivery revenue grew from 10.8% to 34.9% between March & October of this year.
• The company was founded in 2014 in Africa, began U.S. operations in 2020 with Novant Health, & established a partnership with Walmart in 2021.