50 SKY SHADES - World aviation news

Wingcopter secures further Investment from Corecam

Download: Printable PDF Date: 05 Mar 2020 08:59 (UTC) categories:
Publisher:
Wingcopter secures further Investment from Corecam - Finance publisher
Dana Ermolenko
Country: Germany Aircraft: Drones

Only three months after its initial funding, Corecam Capital Partners has increased its investment in Wingcopter in a second closing. In December, the multi-family office from Singapore participated in a seed round with several million euros in the German start-up, which develops and sells transport drones for humanitarian and civil applications. 

The reason for the decision is the great commercial interest in Wingcopter. In the three months since Corecam's first investment in December 2019, the startup has been able to achieve several milestones: 

  • In cooperation with Merck and the Frankfurt University of Applied Sciences, Wingcopter performed the world's first beyond-visual-line-of-sight flight (BVLOS) between two production facilities. Laboratory samples were flown over a distance of 25 kilometers from the Merck plant in Gernsheim to the company's headquarters in Darmstadt - over highways and state roads, power and rail lines, and industrial infrastructure.
  • As part of a humanitarian aid project in Malawi, 90 kg of medicines were delivered by Wingcopter to remote areas that were partially cut off from the outside world by a flood, adding up to a total of over 10,000 flown kilometres within a month just in that specific project.
  • Following the successful participation in the African Drone Forum and the Lake Kivu Challenge in Rwanda, several African governments and international organizations have expressed their interest in cooperating with Wingcopter.
  • Commercial partnerships have been concluded with several globally active companies (announcements to follow).
  • Parallel to the above-mentioned successes, Wingcopter will exceed by far the turnover of the entire previous year already in the first half of the year.

​Martin Lechner, Managing Partner of Corecam Capital Partners, commented: "The worldwide commercial interest in Wingcopter's innovative and powerful eVTOL drones is impressive. Based on the very positive development in recent months, we are supporting Wingcopter in a second round of financing to enable the team to successfully implement their ambitious growth plans".

"We are very proud that Corecam is convinced of our approach and that they have provided us with additional financial resources after such a short time. With the additional capital, we will continue to expand the team in order to be able to meet the high demand and to accelerate the further development of the Wingcopter", adds Wingcopter’s CEO Tom Plümmer.

Philipp Weber, Venture Capital Partner at FPS Law and member of Wingcopter’s advisory board, adds: “In contrast to many other drone start-ups in the logistics sector, which currently only present prototypes and visions, Wingcopter has been able to impressively demonstrate the capabilities of the Wingcopter drone in flight operations in recent months, among other things through flights in aid projects. The further investment by Corecam is an important step towards rapid growth”.

Wingcopter plans to grow from the current 45 team members to 70 within the next few months.

Interested parties can view current job vacancies at wingcopter.com/careers.



Loading comments for Wingcopter secures further Investment from Corecam...


Recommended

NASA boosts Electra research and development

The National Aeronautics & Space Administration has signed a contract with Electra.aero to mature enabling aerodynamic "blown lift" technologies for electric ultra-short takeoff and land...

The importance of loving an aircraft inside and out -finishing touches

Aircraft interior and exterior completions specialists, RAS Group – a part of the global base and line maintenance service, JET MS, who is, in turn, an integral part of the Avia Solutions Group...

Condor selects Airbus A330neo for fleet modernisation

German airline Condor Flugdienst GmbH has chosen the A330neo to renew its long-haul fleet with plans to introduce 16 aircraft of this new and more efficient type. The airline has signed an agreement w...

United Aviate Academy to train new pilots using Boeing Comprehensive Suite of Training Solutions

United Aviate Academy has selected Boeing to provide a comprehensive suite of training tools, materials and digital solutions to develop and provide early career training to United Airlines&rsquo...