Boeing leads $16m investment in California autonomous drone delivery startup

SAN FRANCISCO - US aerospace leader Boeing has taken a leading role in completing a Series A funding round of $16 million for a California-based startup of autonomous drone delivery in urban areas, the company said Tuesday.

Boeing said its investment firm HorizonX Ventures funded the California-based Matternet to help the startup's safe, on-demand unmanned aerial vehicle (UAV) delivery operations in urban environments.

Other investors such as Swiss Post, Sony Innovation Fund and Levitate Capital have also taken part in the multi-million dollar investment, Boeing said.

It noted that Matternet's advanced logistics platform, in combination with Boeing's expertise in complex logistics, integration and manufacturing capabilities, will further enable reliable and efficient cargo air transportation in urban areas.

Matternet was the world's first company to be authorized to launch UAV operations over densely populated areas in Switzerland in 2017.

It conducted on-demand drone deliveries of medical samples to hospitals in Switzerland in partnership with Swiss Post, by taking advantage of its Matternet Station, M2 drones and the Cloud logistics platform.

"Matternet's technology and proven track record make the development of a safe, global autonomous air mobility system a near-term reality," said Brian Schettler, managing director of Boeing HorizonX Ventures.

This year, Matternet has joined a federal program that will enable it to work with hospitals, universities and transportation agencies in California and North Carolina to conduct on-demand delivery of medical supplies and samples.

Matternet Founder and Chief Executive Officer Andreas Raptopoulos said his firm wants to expand Matternet's US and global operations and cooperate with Boeing to "make next-generation aerial logistics networks a reality."

Founded in 2014, Matternet has 35 employees and raised $25 million to date.

Boeing established HorizonX Ventures last year to invest in companies dedicated to aerospace technologies and manufacturing innovations, including autonomous systems, augmented reality and machine learning.