Elroy Air raises $9.2 million for delivery drones that can carry up to 500 pounds

The dozens of companies vying for a foothold in the $11.2 billion drone industry — and by extension the $400 million same-day delivery market — have all made more noise than Elroy Air, a San Francisco startup cofounded almost three years ago by former Airwave product manager Clint Cope and Sifteo cofounder David Merrill. Elroy operated largely under the radar until December 2017, when it emerged from stealth with a prototype aircraft that could carry hundreds of pounds of cargo over hundreds of miles.

It has kept its head down since then, but it’s reemerging now with news that it has closed a $9.2 million seed round of funding from new and existing investors Catapult Ventures, Precursor Ventures, Lemnos, Haystack, Shasta Ventures, Levitate Capital, 122West, Amplify Partners, and Homebrew. Elroy also took the wraps off of its latest creation — the unmanned vertical-takeoff-and-landing (VTOL) drone Elroy Air Chaparral — and revealed that it plans

... read more at: https://venturebeat.com/2019/02/13/elroy-air-raises-9-2-million-for-delivery-drones-that-can-carry-up-to-500-pounds/

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