Zipline reaches $21.5bn valuation as Walmart adds 300 drone sites

Zipline has raised $1.5 billion, bringing its valuation to $21.5 billion, as it expands its US drone delivery partnership with Walmart. The companies plan to add 300 delivery sites under a new multi-year agreement, a major increase from the 21 sites they currently operate together.

The funding round was led by Paradigm, WCM Investment Management and Layer Global, with several other investors taking part. Zipline says it will use the money to expand US manufacturing and hire workers; it also reported that its share of delivery revenue rose from 10.8% to 34.9% between March and October. Its drones now serve customers in several US cities, five African countries and Japan.