Matternet secured funding from the “Phaistos Investment Fund” of 5G Ventures, in a B series funding round.Andreas Raftopoulos’ company, based in the USA, provides microtransfer services using drones in urban areas in Europe, North America and the Middle East.
As part of the investment agreement, Matternet will establish a subsidiary in Greece (MAtternet Europe) to manage its European activities.
Matternet Europe will be based in the “Lefkippos” Technology Park of the National Center for Scientific Research “Demokritos“, where it will collaborate with the scientific team of the Media Networks Laboratory.
“Demokritos” is part of the cooperation network developed by 5G Ventures to support Phaistos’ investors with infrastructure, know-how and access to R&D resources.
According to independent studies, the global market for urban drone transport will reach 56 billion dollars in 2030 and 1 trillion dollars until 2040.
To date, Matternet drones have completed 20,000 commercial flights to eight cities in the U.S., Switzerland, Germany and the United Arab Emirates.
With this solution the company contributes to the safe delivery of sensitive items without burdening the road network. Matternet deliveries are also distinguished for their sustainability, as they meet the ESG criteria.
Matternet’s solutions have already been used to transport sensitive goods between healthcare facilities in Switzerland.
In fact, the company is estimated to serve 100 destinations in Abu Dhabi by making 3 million deliveries to the city’s healthcare units. In addition, Matternet drones have been successfully used by organizations such as the World Health Organization, UNICEF and Doctors Without Borders in emergencies in Africa, Central America and Asia.