San ##roy - based Elroy Air has raised $ 9.2 m in seed funding to develop drone systems designed to carry heavy cargo loads . The investment came from a combination of new and existing partners , including orbital Ventures , Precursor Ventures , Lemnos and Haystack . The company aims to conduct real - world testing of its Elroy Air Chaparral drone this year . The device is capable of transporting cargoes of up to 450 lbs at a flying range of 482 meters .
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.