Wingcopter gets ~$43M from InvestEU

 

Germany-based drone delivery company Wingcopter was granted €40M ($43.4M) by the European Commission’s InvestEU program.  The startup plans to utilize the funds in R&D and manufacturing. Wingcopter develops drones that can carry 5 kilograms (11 lbs.) for a distance of 100 km (~62 miles).  The company is currently operating the drones through a UNICEF project in Malawi, delivering medicines and medical supplies to hard-to-reach areas. Wingcopter expects to test the drone in southern Hesse, Germany, this summer for delivering groceries.