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Wingcopter secures further Investment from Corecam

Darmstadt, March 5, 2020 – Only 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 reason for the decision is the great commercial interest in Wingcopter. In the three months since Corecam's first investment in December 2019, the startup has been able to achieve several milestones:

  • 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 (see TechCrunch article; project video).

  • 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.

  • Commercial partnerships have been concluded with several globally active companies (announcements to follow).

  • 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.

Martin Lechner, Managing Partner of Corecam Capital Partners, commented: "The worldwide commercial interest in Wingcopter's innovative and powerful eVTOL drones is impressive. Based on the very positive development in recent months, we are supporting Wingcopter in a second round of financing to enable the team to successfully implement their ambitious growth plans".

"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. 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", adds Wingcopter’s CEO Tom Plümmer.

Philipp Weber, Venture Capital Partner at FPS Law and member of Wingcopter’s advisory board, adds: “In contrast to many other drone start-ups in the logistics sector, which currently only present prototypes and visions, Wingcopter has been able to impressively demonstrate the capabilities of the Wingcopter drone in flight operations in recent months, among other things through flights in aid projects. The further investment by Corecam is an important step towards rapid growth”.

Wingcopter plans to grow from the current 45 team members to 70 within the next few months. Interested parties can view current job vacancies at wingcopter.com/careers.


About Wingcopter

Wingcopter is an award-winning German manufacturer of unmanned eVTOL aircrafts dedicated to improving the lives of people worldwide through meaningful commercial and humanitarian applications. The Germany-based start-up focuses on the delivery of medical goods as well as parcels and food.

With its unique, patented tilt-rotor mechanism, Wingcopter by far exceeds the range and payload capabilities of commercial multicopter drones, achieving a new dimension of efficiency. The electrically powered Wingcopter aircrafts take off and land vertically like multicopters in the smallest of spaces and fly long distances as efficiently and quickly as fixed-wing aircraft. This enables ranges of up to 75 miles (120 kilometers) and a Guinness world record speed of 150 mph (240 km/h). Even in strong winds of up to 44 mph (70 km/h) or inclement weather, the Wingcopter flies autonomously and reliably.

Wingcopter is a winner of the German Aviation Innovation Award (IDL), winner of the Digital Logistics Award, the record holder of the "DroneMasters" drone marathon as well as SDG's Spotlight Winner of the Japanese NTT Open Innovation Challenge 2019. In 2019, co-founder and CEO Tom Plümmer was added to the Forbes 30 Under 30 list.

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About Corecam

Corecam Capital Partners specializes in direct investments within the Corecam Investment Group. Corecam is an independent and owner-managed family office for global entrepreneurs and their families. Founded in 2009, the company manages assets of approximately USD 2.5 billion and employs around 50 people in Singapore and Zurich. Corecam Capital Partners offers its investors access to global real estate, venture capital and private equity investments.

www.corecam.com  

 

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