Cargo drone airline Dronamics has been awarded a €2.5 million grant by the European Commission under the European Innovation Council (EIC) Accelerator program.
The company will use this grant to support the development and roll-out of its cargo drone fleet and the deployment of the first droneports in its network, as well as operations in Europe.
Dronamics aims to democratize air freight by enabling affordable and sustainable same day delivery for businesses and communities everywhere, especially remote and under-served ones.
“We are honored to receive this support from the European Innovation Council, which we see as testament to the impact that cargo drone logistics can have on the European Union economy at large,” said Svilen Rangelov, Co-Founder and CEO of Dronamics. “We will use this grant to establish our European operations and keep bringing innovation to help elevate communities and businesses using breakthroughs in aviation and technology that will revolutionize air cargo mobility.”
Dronamics was selected as one of the few companies to receive funding by the EIC Accelerator program, which had nearly 1,000 candidates. The EIC has also expressed a material commitment to support Dronamics’ upcoming Series A round.