Bulgaria’s Dronamics receives €2.5M grant for cargo drone fleet development
Bulgarian-founded cargo drone operator Dronamics has received a €2.5 million grant from the European Commission under the European Innovation Council (EIC) Accelerator program. The funds will support the company’s plans to roll out its cargo drone fleet and launch commercial flights across Europe, The Recursive reports.
- Dronamics was founded in 2014 by Konstantin Rangelov and Svilen Rangelov. Aiming to democratize airfreight and lower the cost of shipping in emerging markets, the company develops and operates an all-in-one solution for the middle-mile, powered by its flagship Black Swan cargo drone.
- In May 2022, Dronamics became the first drone cargo company in the world to obtain a European drone airline license, allowing it to self-authorize flight operations across EU countries.
- Currently, Dronamics is working on preparing the first commercial flights of Black Swan in 2023. According to the company’s data, its flagship aircraft can carry 350 kg at a distance of up to 2,500 km.
“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,”Svilen Rangelov, co-founder and CEO of Dronamics, comments on the deal.
- As Svilen Rangelov told The Recursive, Dronamics is also planning to close a larger Series A round from a strategic investor by the end of 2022. The future investment will fund the company’s next phase of growth — the scaling up of the drone fleet required to serve the commercial routes, he said.