Japan-based Drone Fund invests in Wingcopter
Ahead of its upcoming Series B, German drone delivery startup Wingcopter has received funding from Drone Fund, a Japan-based venture capital firm dedicated exclusively to investing in the drone technology ecosystem.
Although Wingcopter did not disclose the exact amount it received, we do know that the investment is from Drone Fund’s $ 90 million third fund (Drone Fund III). Drone Fund’s current portfolio includes a range of organizations working in the drone field – from hardware and software to core technology and integration. However, this is the first time the venture capitalist has made an investment in eVTOL drone technology or in a German company.
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This, of course, helps that Wingcopter already has close ties to Japan.
Last year, the company signed a partnership agreement with Japan’s largest airline, ANA, to build a rural-focused drone delivery network. In addition, the drone company is working on a strategic partnership with one of the largest Japanese sogo shosha (general trading companies) through the Wingcopter Authorized Partner Program (WAPP). The WAPP network will also allow the company to operate, promote and distribute in Japan the world’s first triple-drop delivery drone, the Wingcopter 198.
Wingcopter sees Japan as an attractive market for its solutions, CEO Tom PlÃ¼mmer saying:
This investment comes as we step up our efforts in the Japanese market. We are confident that the Drone Fund team will open doors, allowing us to offer drone delivery services to more customers in Japan and beyond. It also makes us very proud to be the only eVTOL drone company in their portfolio of around 50 investments.
Meanwhile, Kotaro Chiba, founder and managing partner of Drone Fund, is confident that working with the Wingcopter team will lead to the development of drone logistics in Japan and abroad. Chiba says:
We have seen the air logistics network in Japan develop at an accelerated pace with the lifting of the ban on level 3 flights in 2021. Wingcopter is one of the most trusted eVTOL hardware, software and AI providers and the most advanced in the world. with successful experience in Japan. We are honored to be able to invest in such a great team.
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