Zipline Raises $1.5 Billion at a $21.5 Billion Valuation as Walmart Commits to 300 More Drone Delivery Sites

Zipline, the drone company that started out carrying blood to remote clinics in Rwanda, has raised $1.5 billion at a post-money valuation of $21.5 billion, and says Walmart will add 300 more drone delivery sites under a new multi-year agreement. The figures come from Zipline's own announcement on Thursday, and are confirmed by TechCrunch's report.

The round was led by Paradigm, WCM Investment Management and Layer Global. Valor Equity Partners, Fidelity, Uber, Tiger Global, J.P. Morgan, ARK Invest and Salesforce Ventures also took part. The money will go on expanding Zipline's US manufacturing and hiring, with the aim of building a nationwide drone delivery network.

How big is the Zipline and Walmart drone delivery deal?

The two companies have worked together since 2021 and currently run 21 active drone delivery sites, TechCrunch says. The new agreement adds 300 more, and Zipline describes it as national and open to further expansion. That is a very large step from a small base, and it is worth noting that the sites are a commitment to build rather than a count of sites already operating.

Zipline says its work for Walmart, which began in 2021, is what the new money is meant to scale. Because the company builds its own aircraft, the manufacturing line is as important as the sites: every new location needs drones, docks and trained staff, which is why the funds are going to US factories and hiring rather than only to software. Neither Zipline nor TechCrunch said how many of the 300 sites are already planned or where they will be.