EIC boosts its investment in Dronamics by up to €30 million.

Dronamics, a cargo drone airline, has been nominated for an equity investment of up to €30 million ($34.7 million) from the European Innovation Council (EIC) under its Strategic Technologies for Europe Platform (STEP). Previously, the company received a €2.5 million grant and a €10 million investment from the EIC. Dronamics raised $40 million in pre-Series A funding in February 2023 and is noted for its long-range, high payload cargo drones, which outperform traditional transport methods. The EIC's support highlights Europe's commitment to enhancing its technological capabilities.