Investors question Anthropic IPO timing, seek lower valuation
Some potential buyers see a discussed $1.5 trillion valuation as too high, while investors await October revenue figures.
Zipline raises $1.5 billion at $21.5 billion valuation, expands Walmart deal
A new multiyear agreement with Walmart calls for 300 additional U.S. drone delivery sites, compared with 21 currently operating under their partnership.
Drone delivery startup Zipline has secured $1.5 billion in funding, bringing its valuation to $21.5 billion, alongside an expanded delivery agreement with Walmart. The California-based company plans to put the money toward manufacturing capacity and hiring in the United States.
Under the new multiyear Walmart agreement, the companies will add 300 U.S. drone delivery sites. Their partnership began in 2021 and currently covers 21 active locations.
Paradigm, WCM Investment Management and Layer Global led the fundraising. Other participants included Uber, Salesforce Ventures, Valor Equity Partners, Fidelity Management & Research Company, Tiger Global, J.P. Morgan and ARK Invest.
Zipline said the investment would support expansion of its U.S. manufacturing facilities and recruitment as it builds a nationwide delivery network. Its technology combines drones with systems for launching and landing them, along with logistics software.
Founded in 2014, Zipline initially delivered blood in Rwanda before expanding into Ghana and Nigeria. It started U.S. operations in 2020 by transporting medical supplies and equipment for Novant Health in North Carolina. In 2022, it obtained Federal Aviation Administration Part 135 air carrier certification, authorizing long-range commercial drone deliveries.
Zipline now delivers food, retail goods, agricultural products and health products across five African countries, several U.S. cities and Japan. Its Platform 2 home-delivery drones can carry up to eight pounds within a 10-mile radius, while its larger Platform 1 aircraft can make round trips covering 120 miles.