“German Drone Delivery Startup, Wingcopter, Secures $44M Funding Boost from EIB”

German startup Wingcopter has secured €40m ($44m) in funding from the European Investment Bank to expand its delivery drone business. The funds will be used to develop its hardware line and launch a new logistics and delivery service using its drones. The investment brings Wingcopter’s total raised to €100m. CEO Tom Plümmer said the company plans to raise a significant Series B next year. Wingcopter has been working with Unicef in Malawi to deliver medicines to remote areas and plans to expand this service to other geographies and partnerships. The company has also developed a hydrogen-powered drone that extends the range of its aircraft by five times compared to battery-powered models.