Three months after its initial funding, Corecam Capital Partners has increased its investment in Wingcopter in a second closing.
In December, the multi-family office from Singapore participated in a seed round with several million euros in the German start-up, which develops and sells transport drones for humanitarian and civil applications.
The company explained that the reason for the decision is the commercial interest in Wingcopter.
In the three months since Corecam’s first investment in December 2019, the startupm detailed how it has achieved the following:
• In cooperation with Merck and the Frankfurt University of Applied Sciences, Wingcopter performed the world’s first beyond-visual-line-of-sight flight (BVLOS) between two production facilities. Laboratory samples were flown over a distance of 25 kilometers from the Merck plant in Gernsheim to the company’s headquarters in Darmstadt – over highways and state roads, power and rail lines, and industrial infrastructure.
• As part of a humanitarian aid project in Malawi, 90 kg of medicines were delivered by Wingcopter to remote areas that were partially cut off from the outside world by a flood, adding up to a total of over 10,000 flown kilometres within a month just in that specific project.
• Following the successful participation in the African Drone Forum and the Lake Kivu Challenge in Rwanda, several African governments and international organizations have expressed their interest in cooperating with Wingcopter.
• Parallel to the above-mentioned successes, Wingcopter will exceed by far the turnover of the entire previous year already in the first half of the year.
Wingcopter’s CEO, Tom Plümmer, commented: “We are very proud that Corecam is convinced of our approach and that they have provided us with additional financial resources after such a short time.”
Adding: “With the additional capital, we will continue to expand the team in order to be able to meet the high demand and to accelerate the further development of the Wingcopter.”