Stanford-backed medical supplies delivery service Zipline has revealed two funding rounds totaling $190m, one of which is a $70m series C that included existing backer GV.
Zipline, a US-based medical product delivery provider backed by Stanford University’s endowment fund, has raised $190m in funding from investors including internet technology conglomerate Alphabet, CNBC reported on Friday.
The money was secured over two rounds, including a $70m series C round closed in spring 2018, and backed by Alphabet subsidiary GV, investment bank Goldman Sachs, Temasek, Katalyst Ventures and Baillie Gifford.
Baillie Gifford returned for a $120m series D that also featured The Rise Fund, an impact investment vehicle formed by private equity firm TPG. The series D round was closed relatively recently, the report suggested, and Zipline is now valued at $1.2bn.
Zipline operates a medical product delivery service that relies on unmanned aerial vehicles to ship more than 170 different vaccines, blood products and drugs to rural clinics. It has completed more than 14,000 deliveries to date, using proprietary drones it assembles in California.
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
