Volansi raises $50 million in latest round of funding

Volansi, the Concord, California based eVTOL manufacturer offering solutions in the commercial market as well as the defense industry, secured $50 million in their latest round of funding, bringing their total to $75 million. The funding was led by Icon Ventures, a Palo Alto and San Francisco-based venture capital firm with over $1 billion under management. Volansi plans to use this investment to accelerate the use of drone delivery in the United States and global emerging markets with their (hybrid) electric vertical takeoff and landing models. They currently already provide automated point-to-point drone delivery services for time-critical parts and medical supplies for the US Department of Defense. Last month, they signed an agreement with the North Carolina Department of Transportation to begin commercial drone delivery projects in the state.

The combination of our best in class cargo drones and unique software platform set us apart from others in the industry. 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.”
Hannan Parvizian, CEO and Co-Founder of Volansi

With their first round of funding, they were able to develop and bring their Voly line of aircraft to market. The Voly C10 is the smallest of the family, with four rotors for hover. A single propeller combined with a fixed wing with a span of 9.6ft allows it to bring a payload of 10 pounds over a distance of 50 miles. The C20 series features eight rotors for hover, a 15ft wing span and can carry up to 20 pounds with an additional 10 pound capacity for sensors. Thanks to a hybrid propulsion system, it can fly a distance of up to 350 miles.

Photo Credit: Volansi
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