Qualcomm Ventures, the corporate venturing vehicle for mobile semiconductor technology provider Qualcomm, has co-led a $16m series A round for US-based drone delivery service provider Flirtey, according to TechCrunch.
The round was co-led by venture capital firm Menlo Ventures and included Lowercase Capital, Y Combinator and World Innovation Lab.
Flirtey operates what was the first drone-based delivery service to receive regulatory clearance from the US Federal Aviation Administration.
The latest funding comes after Flirtey raised an undisclosed amount of financing from Qualcomm Ventures, Menlo Ventures and Zillionize, as well as $120,000 when it graduated from Y Combinator’s accelerator.
Chief executive Matthew Sweeny told TechCrunch the series A cash would support additional deliveries for existing clients such as Dominos and 7/11 as Flirtey looks to secured more customers in the US and New Zealand, with a move into Japan also on the agenda.
– Image courtesy of Flirtey