Dronamics gets $40 million from venture capitalists

Cargo drone airline Dronamics has raised $40 million from venture capital funds and angel investors in 12 countries. Dronamics, which is the first such business to get a European operating licence, said the money came from Founders Factory, Speedinvest, Eleven Capital and the Strategic Development Fund (SDF), the investment arm of the Tawazun Council in the United Arab Emirates (UAE). The cash comes on top of the €2.5 million grant from the European Commission’s European Innovation Council (EIC) Accelerator programme, which is also pledged to support Dronamics’ upcoming Series A round with €12.5 million in equity investment. “The investment from