EIC recommits to cargo airline Dronamics with €10M investment

Bulgarian cargo airline Dronamics has received a €10 million investment from the European Innovation Council following its previous €2.5 million grant last February.

Dronamics, the world’s first cargo drone airline, operates large long-range drones built specifically for cargo. Its flagship Black Swan expects to carry 350 kg at a distance of up to 2,500 km up to 80 per cent faster, 50 per cent cheaper and with up to 60% lower emissions than alternative modes of transport, including airfreight. 

Black Swan is currently undergoing flight testing and expects for this phase to be completed this year. The EIC’s funding will then be used for commercialisation with initial flights operating out of Greece. 

A founding member of EU Future Mobility Taskforce, Dronamics has been a member of the EIC’s accelerator programme since November 2022. It is one of 74 startups to win a grant from a pool of 1000.

Co-Founder and CEO Svilen Rangelov commented:

“By investing in Dronamics, the EIC is demonstrating their support for our vision, our team, and our common ambition.

This investment also shows the commitment the European Commission is making towards supporting innovation in mobility - a sector of strategic importance for Europe, one that contributes to the EU’s competitiveness in transportation on a global scale and plays a significant role in its freedom of movement economy.”