Dronamics receives €2.5m EC ‘accelerator’ grant
Dronamics has been awarded a €2.5m grant by the European Commission (EC) as part of the European Innovation Council (EIC) Accelerator programme.
The EIC has also made a “material commitment” to support Dronamics’ upcoming Series A funding round.
Dronamics, the first cargo drone airline with license to operate in Europe, said the grant will be used to support the development and roll-out of its cargo drone fleet, droneports deployment and operations in Europe.
Svilen Rangelov, co-Founder and CEO, Dronamics, said receiving the EIC support is testament to the impact cargo drone operations can have on the EU economy.
“We will use this grant to establish our European operations and keep bringing innovation to help elevate communities and businesses using breakthroughs in aviation and technology that will revolutionize air cargo mobility,” said Rangelov.
The EIC Accelerator programme had nearly 1,000 candidates.