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Walmart Backs Zipline With 300 More Drone Sites as $1.5B Raise Closes

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Walmart Backs Zipline With 300 More Drone Sites as $1.5B Raise Closes

Zipline closed a $1.5 billion funding round at a $21.5 billion post-money valuation, pairing the raise with a national multi-year agreement with Walmart to scale their partnership to 300 more drone delivery sites.

The combination moves the drone delivery company further beyond a series of regional pilots toward a nationwide network built around its large retail and food delivery partners. Zipline has flown for Walmart in its home of northwest Arkansas since their partnership began in 2021, and expanded the collaboration to Dallas-Fort Worth, Texas earlier this year.

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The round was led by investment firms Paradigm, WCM Investment Management and Layer Global, with participation from Valor, Fidelity, Uber, Tiger Global, J.P. Morgan, ARK Invest and Salesforce Ventures.

Zipline said it will use the capital to expand its U.S. manufacturing facilities and ramp up hiring, with demand for faster delivery running ahead of what ground networks can supply through congested roads and rising costs.

The valuation marks a sharp repricing for Zipline, which was valued at $7.85 billion earlier this year, according to the Wall Street Journal. In September, the delivery company was reported to be in talks to raise about $1 billion that would give the firm a roughly $20 billion valuation.

The closed round came in larger on both counts, with Paradigm returning as a lead investor after putting $200 million into Zipline in March.

S. and has completed more than 2 million drone deliveries to date, is the largest single commitment behind that expansion.


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