Swoop Aero closes $16 mn Series B round; plans to enter new markets
The Series B raise was led by Australia's deep tech venture capital (VC) fund, Main Sequence.
Swoop Aero has completed a $16 million Series B venture capital raise, following over 2 years of continuous drone delivery of medical supplies across Africa, and delivering over 800,000 items by drone.
"The latest funding will enable the company to enter into new markets, scale its integrated logistics networks and expand Australian manufacturing capabilities whilst progressing its renowned impact-driven operations across Africa," reads the release.
The Series B raise was led by Australia's deep tech venture capital (VC) fund, Main Sequence. Impact-focused fund Giant Leap has joined the venture capital round in addition to In-Q-Tel, the non-profit strategic investor to the U.S. national security community and its allies.
"Joining for a 3rd-time re-investment from both Artesian and Folklore Ventures is a testament to Swoop Aero continuing on a strong growth trajectory, scaling manufacturing and network operations across 4 continents, including Africa, Southeast Asia, Oceania, and Europe," said the company in the release.
Mike Nicholls, partner at Main Sequence, said, "After looking at many drone companies throughout the years, we are proud to back Swoop Aero for building a full aircraft operation system from the ground up to comply with civil aviation regulations around the world. Every time a Swoop aircraft takes off, it eliminates the cost, time and emissions needed to send a delivery by vehicle. Swoop Aero is leading the way, benchmarking the future of logistics technology and aviation, in turn making high impact, equitable and quality logistics networks a reality."
Eric Peck, CEO of Swoop Aero, said, "We're thrilled to have the support of such exceptional VC funds as we expand our integrated logistics networks across the globe and look to scale these networks to stack and deliver services that will transform how the world moves."
Swoop Aero also strengthened its relationship with manufacturing partner Quickstep Holdings, Australia's largest independent composites manufacturer, after accepting a strategic investment as they continue to significantly scale up the manufacture of the Kite aerostructure at their Port Melbourne site throughout 2022 and 2023.
Swoop Aero's technology-enabled platform continued to facilitate operations throughout the Covid-19 pandemic period, strengthening health supply chains and supporting efforts to enact rapid pandemic responses, cementing Swoop Aero's position as a world leader in drone logistics.
Swoop Aero's success is shown in a number of operational achievements, including the progressive expansion of the Malawi and DR Congo networks, alongside VillageReach to improve the accessibility and availability of routine and emergency health supplies. Additionally, offering Swoop Aero's platform selectively to partners enabled the rapid expansion of beyond visual line of sight (BVLOS) operations across a number of new verticals, including ship-to-shore operations for high-value goods and European postal operations.
"Drone logistics is about more than delivery; it's about establishing a new infrastructure layer for society; an infrastructure layer which leverages the skies for movement of goods and delivery of services in a way that hasn't been possible in the past. Swoop Aero makes it possible today, and our goal is to scale that infrastructure layer country by country, so our integrated drone logistics service reaches 1 billion people by 2030." Peck says.
To unlock the skies above cities as they scale towards 1 billion people, Swoop Aero, together with the Federal Aviation Authority (FAA) and the Civil Aviation Safety Authority (CASA), are undertaking a world-first joint drone certification project that will enable the seamless integration of drone technology across urban and rural environments worldwide, utilising Swoop Aero's latest and most advanced aircraft, Kite™. Supported by production in Port Melbourne, the attainment of Type Certification will make Swoop Aero the world's first dual drone certified organisation.
"With over 15,000 successful flight operations across 12 different countries, advanced Australian manufacturing capabilities and Type Certification underway of our most advanced aircraft, the Kite, Swoop Aero will continue to rapidly scale networks across all environments to establish a new infrastructure layer in cities and regions alike," Peck.