Tel Aviv-based drone delivery service Flytrex raises $8 million, pushes regulation frontier forward

Tel Aviv-based drone delivery service Flytrex raises $8 million, pushes regulation frontier forward

Food and retail drone delivery service Flytrex has raised $8 million in funding, and has recently awarded a grant from the Israeli Innovation Authority, bringing their total new funds available to $9.3 million. The company has raised $20.3 million to date.

The funding comes via Benhamou Global Ventures (BGV) and btov.

The fresh injection of capital is expected to further expand Flytrex’s US footprint as well as increase production and R&D capabilities.

In a global pandemic, contactless delivery world, Flytrex has found themselves in a position no one could have predicted. In September 2020 the firm conducted a pilot project in cooperation with Walmart, and saw the delivery of select grocery and household items from stores in Fayetteville, North Carolina. This followed their testing of the service in Grand Forks, North Dakota that saw deliveries of necessities, helping to address the growing health crisis.

"Our mission is to make widespread on-demand drone delivery the rule rather than the exception – and this funding is a vote of confidence from our investors that we are indeed on the way to making this a reality," said Yariv Bash, CEO and Co-Founder of Flytrex.

In 2017, Flytrex launched the world’s first autonomous urban drone delivery system in Reykjavik, Iceland. Since this time, the company has worked tirelessly to push the industry forward.

Flytrex has been participating in Federal Aviation Administration’s UAS Integration Pilot Program (IPP) since 2018, and in 2020 was included on the FAA’s list of several drone companies that are set to obtain airworthiness certification.

“The Flytrex team is trailblazing both innovation and implementation in the drone industry, and we look forward to seeing their airborne delivery reach more and more delighted consumers across the globe,” comments managing partner at BGV Europe and Israel Barak Ben Avinoam.

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.