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Volansi Raises $50 Million to Accelerate Middle-Mile Drone DeliveryNew financing, led by Icon Ventures, will allow Volansi to rapidly scale in the US and global emerging markets SAN FRANCISCO, Sept. 15, 2020 /CNW/ -- Volansi, Inc., the leader in vertical take-off and landing (VTOL) middle-mile drone delivery services, today announced that it has closed $50 million in a Series B round of funding. Led by Icon Ventures, other participants in this financing include existing investors Lightspeed Venture Partners and YCombinator as well as new investors Harpoon Ventures and Merck Global Health Innovation Fund. In addition to the company's funding, Volansi also announced Joe Horowitz, managing partner of Icon, and Barry Eggers, founding partner of Lightspeed, will join its Board of Directors. Volansi provides automated point-to-point drone delivery services for time-critical parts and urgent medical supplies for enterprise customers and the U.S. Department of Defense. This new funding will allow Volansi to build on current momentum by expanding its team, launching new projects and scaling current initiatives in both emerging markets and in the US. "The combination of our best in class cargo drones and unique software platform set us apart from others in the industry," said Hannan Parvizian, CEO and Co-Founder of Volansi. "Closing our Series B with such high-quality investors, especially during these challenging times, is further testament to the venture capital community's confidence in our business and will allow us to keep pushing the envelope of mobility and robotics." "The drone market is very crowded with all sorts of players, but after getting to know Hannan and his team and doing an extensive amount of due diligence, especially with Volansi's key customers and distribution partners, it became abundantly clear that the company is well-positioned to rapidly build a huge business," said Joe Horowitz of Icon. "We are particularly excited about Volansi's unique ability to address the medical community with urgent vaccine delivery, particularly in looking ahead to a post-COVID world." With "The Volansi team has made significant progress since Lightspeed led the company's Series A back in 2019," said Barry Eggers, founding partner of Lightspeed. "We've been impressed by the leadership and team's ability to innovate and execute, and we are looking forward to deepening our partnership during this next phase of growth." About Volansi About Icon Ventures About Lightspeed Ventures View original content:http://www.prnewswire.com/news-releases/volansi-raises-50-million-to-accelerate-middle-mile-drone-delivery-301130851.html SOURCE Volansi |