A drone delivery startup based in the East Bay says it has raised $50 million in Series B funding toward its goal of disrupting the commercial delivery market.
Concord-based Volansi announced the financing round in a company blog post authored by co-founder and CEO Hannan Parvizian, saying the company will use the money to "accelerate the use of drone delivery in the U.S. and global emerging markets."
Parvizian, who previously worked as an engineer with Tesla, says Volansi has developed "first-of-their kind autonomous drones" and aims to change the face of logistics across the globe.
Volansi's drones already deliver time-critical parts and urgent medical supplies for enterprise customers and the U.S. Department of Defense.
The funding round was led by Palo Alto-based Icon Ventures and included existing investors such as LightSpeed Ventures, Y Combinator and One Planet. It brings Volansi's total funding to $75 million, according to the blog.
Volansi, founded in 2015, has 65 employees in Northern California, Arizona and Africa and will be adding more, Parvizian said.