The investment is backed by the European Commission’s InvestEU programme under its sustainable infrastructure section.
Wingcopter’s 198 is expected to operate for the first time in Germany this summer when a pilot project is launched in Hesse to test the potential of on-demand groceries and consumer goods transportation.
The project aims to improve local supply in rural German communities through sustainable deliveries.
It will be conducted with the Frankfurt University of Applied Sciences and funded by the German Federal Ministry for Digital and Transport.
Ambroise Fayolle, EIB Vice President who is responsible for activities in Germany, says, “Electric cargo drones are an important vertical segment for a future of sustainable transport and logistics. This investment underlines our commitment to supporting entrepreneurs growing and building advanced green technology businesses in the European Union, strengthening our technological competitiveness, creating highly skilled jobs and opening up new markets, while preserving nature.”
Tom Plümmer, Co-Founder and CEO of Wingcopter, adds, “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. It requires strong partners like the EIB to build reliable, efficient and safe delivery drone technology and logistics services.”
Investment from EIB follows funding from international investors including European retailer REWE Group, Japanese Fortune 100 conglomerate ITOCHU, Silicon Valley-based Xplorer Capital and Uber co-founder Garrett Camp’s investment arm Expa.
Wingcopter’s cargo drones can carry up to 5kg and cover distances of up to 100km and does not need expensive infrastructure.
The core hardware and software is patented worldwide and research is underway to develop a green hydrogen energy system to power Wingcopter’s drones for even longer flight times.