Frankfurt-based Wingcopter, a startup that develops and sells transport drones for humanitarian and civil applications, announced on Thursday that it has secured €40M quasi-equity investment from The European Investment Bank (EIB).
This strategic investment aims to propel the production of Wingcopter’s flagship model — the Wingcopter 198. It also facilitates the expansion of delivery operations within Europe and internationally.
Additionally, the funding will accelerate company innovation efforts. The agreement is part of the InvestEU program, which supports the transition toward a sustainable economy.
Wingcopter co-founder and CEO Tom Plümmer says, “We would like to thank the European Investment Bank for their trust in us and their support as we strive to become a global leader in drone-based delivery of urgently needed goods, from medical supplies to groceries.”