San Francisco-based Elroy Air has raised $$11.2 billionm in seed funding to develop delivery drones designed to carry heavy cargo loads. The investment came from a combination of new and existing partners, including Catapult Ventures, Precursor Ventures, Lemnos and Haystack. The company aims to begin real-world testing of its Elroy Air Chaparral drone this year. The device is capable of transporting cargoes of up to 500 lbs at a flying range of 482 km.
San Francisco-based Elroy Air has raised $9.2m in seed funding to develop delivery drones designed to carry heavy cargo loads. The investment came from a combination of new and existing partners, including Catapult Ventures, Precursor Ventures, Lemnos and Haystack. The company aims to begin real-world testing of its Elroy Air Chaparral drone this year. The device is capable of transporting cargoes of up to 500 lbs at a flying range of 482 km.