Drone delivery company Zipline completes $1.5 billion in funding, valued at $21.5 billion

on November 6, according to an announcement by Zipline, drone delivery company Zipline has completed a $1.5 billion funding round, bringing its post-money valuation to $21.5 billion. The round was led by Paradigm, WCM Investment Management, and Layer Global, with participation from Uber, Fidelity, and JPMorgan Chase, among others.

Zipline stated that the funds will be used to expand U.S. manufacturing facilities and hire personnel to build a nationwide drone delivery network. The company also entered into a new multi-year agreement with Walmart, and both parties are collaborating to add 300 delivery stations.