Zipline Raises $1.5B at $21.5B Valuation to Build US Drone Network

On November 5, 2026, Zipline announced a $1.5 billion raise at a $21.5 billion post-money valuation to expand U.S. manufacturing, increase hiring and build a nationwide drone-delivery network.

Paradigm, WCM Investment Management and Layer Global led the financing. Valor Equity Partners, Fidelity Management & Research Company, Uber, Tiger Global, J.P. Morgan, ARK Invest and Salesforce Ventures also participated.

Walmart and Uber Plan Network Growth

Walmart and Zipline are working together to launch 300 additional sites under a new national multi-year agreement that could expand further. Uber, also a participant in the financing, is targeting one million deliveries a day with Zipline by 2029, according to Zipline. The Walmart sites and Uber target give the buildout defined commercial milestones alongside its physical expansion.

Hundreds of businesses are generating revenue through Zipline orders and dozens of new businesses are joining its network each week, according to Zipline. Existing partners are expanding their relationships to include hundreds or thousands of new locations.

At a cohort of its longest-tenured restaurants, Zipline reported that its share of delivery revenue rose from 10.8% to 34.9% between March and October. Those restaurants recorded a 26% increase in delivery gross merchandise value, with 80% of that increase coming from Zipline orders. The orders were incremental and did not reduce demand from other platforms. For the expansion plan, the cohort offers evidence that drone delivery can create additional merchant business rather than simply shift orders between delivery channels.

Only 5% of U.S. restaurant orders are for delivery, according to Zipline, and those orders are generally constrained to customers within a couple of miles as costs and travel times become less attractive at longer ranges. Zipline’s service expands the number of customers businesses can reach without causing traffic. Wonder is building new storefronts and kitchens optimized specifically for Zipline.

Delivery Speed and Quieter Flights

Within the Dallas–Fort Worth metroplex, Zipline reported more than one million deliveries during 2026. Its median October order arrived 19 minutes after checkout, compared with 30 minutes or more for traditional delivery, while the median bakery order arrived in 10 minutes among restaurants with quick preparation times.

On October 27, 2026, Zipline announced sound-optimized dynamic flying, an acoustics upgrade deployed across its fleet. Instead of relying on static, pre-planned trajectories, the system uses weather sensors to measure real-time wind at takeoff and combines those readings with a custom sound model to choose a quieter transition to on-wing flight. The drones’ fixed-wing design lets them turn off all but one motor after reaching cruising speed and altitude, while dynamic paths balance wind, altitude and speed.

Based on internal modeling, Zipline reported 68% lower overall sound exposure per flight and 24% lower peak volume than its 2025 fleet. The fleetwide upgrade also cut average flight times by 53 seconds and energy use per flight by 21%. The company has also introduced a next-generation aircraft designed to fly higher and more quietly while carrying heavier orders over longer distances.

Medical Operations and Autonomous Scale

The U.S. retail expansion sits alongside a broader medical logistics operation. Zipline reported 150 million commercial autonomous miles flown without a safety incident and long-range medical deliveries that help save more than 14,000 lives each year across multiple continents. Its nationwide Côte d’Ivoire network is under construction and expected to serve more than 2,200 health facilities and 12 million people.

The funding ties Zipline’s national ambitions to a concrete execution test: replicating its reported restaurant gains and delivery performance as new sites open, while expanding manufacturing and hiring. The Walmart deployments and Uber’s volume target make merchant adoption and delivery volume central to turning the physical buildout into a national service.