Wingcopter GmBH, a German drone technology and services startup, today announced it has raised €40 million (about $44 million) in new funding from the European Investment Bank to expand production on its flagship drone hardware and take its delivery services into Europe and abroad.

Founded in 2017, Wingcopter is the developer, manufacturer and operator of fixed-wing drones that can take off and land vertically. The company also provides drone delivery services and last-mile logistics for packages such as tools, spare parts, food and groceries. The company also operated its drones humanitarian operations in Malawi, Africa to deliver life-saving medicines and medical supplies to rural communities and other hard-to-reach areas.

The EIB is a long-term lending bank controlled by the member states of the European Union, it makes investment decisions based on projects consistent to the values of its membership. The investment in Wingcopter is part of the InvestEU program, which supplies funding for projects and companies that will help transition the EU towards environmental sustainability.

The Wingcopter 198 is the company’s flagship cargo drone and it can take off and land vertically like a multicopter, while also being able to fly long distances rapidly even in inclement weather. It can carry packages of up to 13 pounds and fly 68 miles with a cruise speed of 62 miles per hour. The drone is also capable of delivering up to three packages by hovering over each location to lower its cargo to the ground. Using artificial intelligence a single control station can manage up to 10 drones simultaneously beyond line of sight with a high level of autonomy and allow them to do on-time deliveries.

Working with researchers at the Hamburg-based ZAL Center of Applied Aeronautical Research GmbH the Wingcopter team is currently developing a green hydrogen-powered energy system that will give the drones even longer flight times.

The company plans to debut its Wingcopter 198 this summer in a pilot program in Germany to test the potential of on-demand delivery of groceries and other consumer goods. It will focus on communities where consumer goods and produce are difficult to deliver because of distance, poor infrastructure or other considerations. The program will be conducted in concert with the Frankfurt University of Applied Sciences.

“Our goal is also to improve lives by creating many jobs — in R&D and manufacturing at our headquarters in Europe, as well as in the countries where we provide services, where we train and qualify local young people to operate our drone delivery networks,” said Wingcopter co-founder and Chief Executive Tom Plümmer.

EIB Vice President Ambroise Fayolle said that Wingcopter was chosen for the investment because of its attention to clean technology and the need for attention to environmental considerations. 

“Backing European cleantech pioneers with global reach like Wingcopter is central to our mission,” Fayolle said. “Electric cargo drones are an important vertical segment for a future of sustainable transport and logistics.”

Photo: Wingcopter