Zipline Valuation, Funding & Investors
Zipline is valued at $22B as of August 2026.
Last Zipline valuation
$22B
Strategic investment · Aug 2026
Last Zipline funding round
$1.5B
Strategic investment · Aug 2026
Cumulative funding Zipline raised
$3.5B
across 10 funding rounds
Key investors in Zipline
Baillie Gifford
Katalyst Ventures
Fidelity
Sequoia Capital
Tiger Global
GV
About Zipline
Zipline is a South San Francisco-based company that designs, manufactures and operates autonomous electric delivery drones together with the distribution centres and docks they fly from. It grew out of Romotive, a consumer robotics start-up founded in 2011 by Keller Rinaudo Cliffton, and was formed in 2014 by Rinaudo, Keenan Wyrobek, William Hetzler and Ryan Oksenhorn to deliver medical supplies by air. Its fixed-wing Platform 1 drones drop blood, vaccines and medicines by parachute to hospitals and clinics in Rwanda, where national service began in October 2016, and in Ghana, Nigeria, Cote d'Ivoire and Kenya, while its Platform 2 system lowers packages to homes in US cities for retailers such as Walmart, health systems and restaurants. By January 2026 Zipline had completed more than two million commercial deliveries and flown over 120 million autonomous miles across seven countries, including Japan. It earns revenue from per-delivery fees and service contracts with governments, health systems and retailers. The company raised an $800 million Series H at a $7.6 billion valuation in 2026, led by Valor Equity Partners, and in August 2026 Uber made a strategic investment as part of a partnership to deliver Uber Eats orders by drone.
Founded
2014
HQ
South San FranciscoWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$22B (Aug 2026)
Zipline Valuation
Zipline is currently valued at $22B, based on its strategic investment round in August 2026. Read the announcement ↗
The $1.5B round was led by Uber.
Zipline's valuation has grown 35x from $620M at its Series C in March 2018 to $22B in August 2026, across 8 priced rounds.
Zipline valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2026 | Strategic investment | $22B |
| Mar 2026 | Series H | $7.6B |
| Jan 2026 | Series H | $7.6B |
| Jun 2024 | Series G | $5B |
| Apr 2023 | Series F | $4.2B |
| Jun 2021 | Series E | $2.8B |
| Mar 2019 | Series D | $1.2B |
| Mar 2018 | Series C | $620M |
Zipline Funding History
Zipline has raised a total of $3.5B across 10 funding rounds.
Zipline's first fundraising round was a $18M Series A in July 2015. The most recent completed round was a $1.5B strategic investment round in August 2026.
Zipline funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2026 | Strategic investment | Uber (lead) | $1.5B | $22B | Uber Technologies announced on August 17, 2026 that it will make a strategic investment in Zipline as part of a broader partnership to bring Zipline’s autonomous drone delivery network to Uber Eats customers across the United States. The companies said the first deliveries are planned for later in 2026 and that the long-term goal is to reach one million drone deliveries per day by the end of 2029. The partnership is intended to expand drone delivery at scale by combining Uber’s consumer delivery platform with Zipline’s autonomous logistics system. The service will begin in Zipline’s existing U.S. markets before expanding to additional cities, with the companies positioning the arrangement as a long-term operating partnership rather than a one-off commercial test. Zipline is a drone delivery company operating across four continents and had completed 2 million deliveries at the time of the announcement. The company was most recently valued at $7.6 billion after raising $800 million earlier in 2026. |
| Mar 2026 | Series H | Baillie Gifford; Fidelity; Tiger Global; Valor Equity Partners; Paradigm | $200M | $7.6B | Zipline added $200 million to its Series H on 23 March 2026, taking the round to $800 million at the $7.6 billion valuation set when the first $600 million closed in January. The extension brought in the crypto investment firm Paradigm alongside the round's earlier backers Fidelity Management & Research Company, Baillie Gifford, Valor Equity Partners, which led the initial close, and Tiger Global. Chief executive Keller Cliffton said the capital arrived earlier than planned because delivery volume growth beat the company's forecasts in January and February, with customers ordering repeatedly and average basket sizes rising by more than 20%. The money funds Zipline's expansion of home delivery across new US metropolitan areas, beginning with Houston and Phoenix, along with manufacturing, fleet capacity and local infrastructure. Zipline designs and operates autonomous electric delivery drones and the docking systems they launch from, serving hospitals, health systems, retailers and restaurants. It began with national medical supply networks in Rwanda and Ghana before expanding into the United States, Japan and other countries. |
| Jan 2026 | Series H | Valor Equity Partners (lead); Baillie Gifford; Fidelity; Tiger Global | $600M | $7.6B | Zipline, a San Francisco-based drone delivery company founded in 2011 by Keller Rinaudo Cliffton and others, specializes in autonomous logistics using fixed-wing electric drones for rapid delivery of medical supplies, food, retail, and healthcare products to hospitals, facilities, and homes. The company operates the world's largest autonomous delivery system, having completed over 2 million commercial deliveries and flown more than 125 million autonomous miles across four continents, serving 5,000+ hospitals and health facilities while claiming to save 10,000+ lives annually with zero-emission aircraft and no serious injuries. On January 21-22, 2026, Zipline raised $600 million in a funding round at a $7.6 billion valuation, up from around $5 billion in 2024, with participation from Fidelity Management & Research Company, Baillie Gifford, Valor Equity Partners, and Tiger Global. The capital will fund expansion into at least four new U.S. states, starting with Houston and Phoenix, alongside scaling manufacturing, fleet capacity, and metro infrastructure to meet accelerating demand for faster, cleaner deliveries. Zipline's growth includes commercial deployments in the U.S. and expansions in Africa backed by up to $150 million in prior government funding for AI and robotics infrastructure. CEO Keller Cliffton emphasized 2026 as a pivotal year for mainstream autonomous drone delivery, positioning Zipline ahead of competitors like Amazon and Alphabet's Wing in a maturing logistics market. The round underscores investor confidence in Zipline's 'magical portal' model and trillion-dollar potential through high-frequency deliveries, with hires from Tesla and SpaceX enhancing scaling capabilities. |
| Jun 2024 | Series G | Baillie Gifford | $350M | $5B | Baillie Gifford followed on in Zipline's Series G, a roughly USD 350 million private round raised in June 2024 that the company did not announce publicly. Scottish Mortgage Investment Trust's annual report records a 'Zipline International Inc Series G Pref.' follow-on in the year to 31 March 2025, and market trackers put the round at about USD 350 million at a valuation of roughly USD 5 billion. The capital was raised to fund the commercial roll-out of Zipline's second-generation Platform 2 system in the United States, where the company had signed delivery agreements with health systems, pharmacy chains and restaurant groups. Zipline was founded in 2014 by Keller Cliffton, Keenan Wyrobek and Will Hetzler and is headquartered in South San Francisco. It designs and operates electric delivery drones together with the ground infrastructure they launch from, and began with national blood and vaccine distribution contracts in Rwanda and Ghana before expanding into the United States, Japan and Nigeria. Revenue comes from per-delivery fees and long-term service contracts with health ministries, hospital systems, pharmacies and retailers. |
| Apr 2023 | Series F | Katalyst Ventures | $330M | $4.2B | Zipline, a South San Francisco-based drone delivery company specializing in autonomous logistics for medical supplies, food, retail, and healthcare products, secured $330 million in its Series F funding round, concluded on April 28, 2023, at a post-money valuation of $4.2 billion, marking a 55% increase from its prior $2.7 billion valuation. The round, priced at $40.20 per share per a Delaware filing on April 10, included participation from new and existing investors such as Sequoia Capital, Andreessen Horowitz, Google Ventures (GV), and Katalyst Ventures, bringing total funding to approximately $821-900 million across multiple rounds. A potential $20 million extension could raise the total to $350 million. The capital aims to fuel expansion of operations, including the launch of Zipline's new home delivery service and deployment of its next-generation Platform 2 (P2) system, featuring small delivery droids and drones capable of carrying eight pounds of cargo over 10 miles with lamppost docking stations. Partnerships include Sweetgreen, Michigan Medicine, and various health systems, alongside ongoing operations serving hospitals and facilities, particularly in Africa for 24/7 medical supply delivery. Zipline positions itself as the forefront of zero-emission, automated instant delivery, with backers like GV highlighting its role in transforming logistics. The round occurred amid a challenging funding environment for startups, underscoring strong investor confidence in drone delivery amid regulatory progress and commercial scaling in the U.S. and globally. Later rounds, such as a $600 million raise at $7.6 billion valuation, reflect continued growth, but details here pertain to the specified April 2023 Series F. |
| Jun 2021 | Series E | Baillie Gifford (lead); Katalyst Ventures (lead); Temasek (lead); Intercorp Peru; Reinvent Capital; Fidelity; Emerging Capital Partners | $250M | $2.8B | Zipline raised $250 million in a round announced on 30 June 2021 that valued the drone delivery company at $2.75 billion. New investors Fidelity, Intercorp, Emerging Capital Partners and Reinvent Capital joined existing backers Baillie Gifford, Temasek and Katalyst Ventures. The funding came as Zipline expanded beyond Africa, including a partnership with Walmart to deliver health and wellness products in the United States, work with Pfizer on distributing COVID-19 vaccines and an agreement with the Toyota Group to enter Japan. By then the company had flown more than ten million autonomous miles, distributed two million vaccine doses and completed 150,000 commercial deliveries, and it said it made a commercial delivery every four minutes. Zipline operated delivery services in Rwanda, Ghana, Nigeria, Japan and the United States, earning fees from governments, health systems and retailers for on-demand delivery. The valuation more than doubled the $1.2 billion level set in its 2019 financing. |
| Mar 2019 | Series D | TPG (lead); Baillie Gifford; Katalyst Ventures; Empede Capital | $120M | $1.2B | Zipline raised $120 million in spring 2019 in a round that included additional investment from Baillie Gifford and a new investor, The Rise Fund, the impact investing platform of TPG. The company announced the money on 17 May 2019 together with a previously undisclosed $70 million raised in spring 2018, for $190 million in new financing that valued it at more than $1.2 billion. Other backers of the combined financing included Katalyst Ventures, GV, Temasek, Bright Success Capital, Goldman Sachs, Oakhouse Partners and Toyota Tsusho Corporation. Zipline said it would use the capital to expand its medical delivery service across Africa, South Asia, Southeast Asia and the Americas, with the aim of serving 700 million people within five years. At the time it ran a national blood and medical supply service in Rwanda and was launching a vaccine and medicine delivery network in Ghana. Total funding since its founding reached $225 million with this round. |
| Mar 2018 | Series C | Katalyst Ventures (lead); Temasek; Baillie Gifford; The Index Project; GV; Oakhouse Partners; Bright Success Capital; Goldman Sachs; SteelSky Ventures; Toyota Tsusho | $70M | $620M | Zipline raised $70 million in a previously unannounced round completed in spring 2018, which it disclosed only in May 2019 together with a further $120 million. Investors in the 2018 round were Katalyst Ventures, Baillie Gifford, GV, Temasek, Bright Success Capital, Goldman Sachs, Oakhouse Partners, Toyota Tsusho Corporation and the Design to Improve Life Fund. The capital supported a second-generation fixed-wing drone and the company's expansion from Rwanda into Ghana, where it built a national network to deliver vaccines, blood and medicines. Zipline's aircraft launch from distribution centres and drop medical supplies by parachute to hospitals and clinics that order them by text message. Revenue came from service contracts with national governments and health ministries, supported by philanthropic partners. The combined $190 million raised across the 2018 and 2019 rounds valued Zipline at more than $1.2 billion and took total funding since its founding to $225 million. |
| Nov 2016 | Series B | Visionnaire Ventures (lead); Grishin Robotics; SGH CAPITAL; Wesley Chan; Slow Ventures; Morado Ventures; AME Cloud Ventures; Andreessen Horowitz; Sequoia Capital; Subtraction Capital; Leblon Capital; Konstantin von Unger | $25M | - | Zipline International raised $25 million in Series B funding on November 9, 2016, led by Visionnaire Ventures and joined by Sequoia Capital, Andreessen Horowitz, Subtraction Capital, and other investors. The funding brought total capital raised to approximately $43 million. The company builds fixed-wing delivery drones and operates delivery services that drop medical supplies including blood, vaccines, and medicines to clinics and hospitals in areas inaccessible by traditional transportation. The drones, called Zips, use commercial-airplane-grade safety approaches and can serve large populations without requiring roads or traversing difficult terrain. At the time of the Series B, Zipline was already operational in Rwanda, conducting emergency flights to deliver blood to transfusion clinics across Africa. CEO and cofounder Keller Rinaudo stated the funding would support hiring, technology development, and expansion into new markets including Indonesia, Vietnam, and the United States, pending regulatory approvals. The company's business model focused on providing instant on-demand medical delivery at low cost by leveraging text-message ordering from healthcare workers. |
| Jul 2015 | Series A | Sequoia Capital (lead); Visionnaire Ventures (lead); GV; Paul Allen | $18M | - | Zipline raised about $18 million in its first institutional funding by mid-2015, a round recorded as a Series A led by Sequoia Capital and Visionnaire Ventures. When the company unveiled its drone delivery service in May 2016, chief executive Keller Rinaudo said it had raised $18 million from investors including Microsoft co-founder Paul Allen, Yahoo founder Jerry Yang, Sequoia Capital, Google Ventures and Stanford University, much of it during its earlier incarnation as the consumer robotics start-up Romotive. The capital paid for the engineering team, prototypes of a fixed-wing delivery drone and early work with regulators and governments. Zipline designs small autonomous aircraft that drop medical supplies by parachute, with health workers ordering blood, vaccines or medicines by text message. Its first national service, delivering blood to transfusion clinics in Rwanda, was being prepared at the time and began operating in October 2016. The company raised a $25 million Series B led by Visionnaire Ventures in November 2016, taking total funding to $43 million. |
Who has invested in Zipline?
33 investors have backed Zipline across its funding rounds, including Baillie Gifford, Katalyst Ventures, Fidelity, Sequoia Capital, Tiger Global and GV.
Lead investors include Uber, Valor Equity Partners, Baillie Gifford, Katalyst Ventures, Temasek and 3 other investors.
Zipline Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Edinburgh | 6 | Lead | Mar 2018 | |
| San Francisco, CA | 4 | Lead | Mar 2018 | |
| Boston, MA | 3 | Participant | Jun 2021 | |
 Singapore | 2 | Lead | Mar 2018 | |
| San Francisco, CA | 2 | Participant | Jul 2015 | |
| San Francisco, CA | 2 | Lead | Jul 2015 | |
| San Francisco, CA | 2 | Lead | Jul 2015 | |
| New York City, NY | 2 | Participant | Jan 2026 | |
| Chicago, IL | 2 | Lead | Jan 2026 | |
| San Francisco, CA | 1 | Participant | Nov 2016 | |
 Luxembourg | 1 | Participant | Nov 2016 | |
 Lima | 1 | Participant | Jun 2021 | |
| New York City, NY | 1 | Participant | Jun 2021 | |
This data is available for Pro users. Sign up to see all 33 Zipline investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialZipline Competitors
Zipline competitors include listed companies like SAIC Motor, XPENG and Aurora Innovation, and private ones like Applied Intuition, Wayve and Anduril.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 China | Publicly listed | $98B | $7.1B | $18B | 0.1x | |
| Mountain View, CA | Private | $415M | - | $15B | 36.1x | |
| China | Publicly listed | $12B | $157M | $9.3B | 0.9x | |
| London | Private | - | - | $8.6B | - | |
| United States | Publicly listed | $3M | ($786M) | $8.2B | 893.6x | |
| Los Angeles, CA | Private | $2.2B | - | $61B | 27.7x |
Zipline Public Comps
Zipline is still privately-owned, but its public comps include J. B. Hunt, XPO, Shanghai International Port Group, Brambles, FedEx Freight, NYK Line, SAIC Motor, Evergreen Marine Corp., SF Holding Co. and Expeditors International.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $12B | $1.6B | 1.9x | 1.6x | 14.2x | 13.2x | |||
| $8.2B | $1.2B | 3.1x | 2.9x | 21.7x | 16.8x | |||
| $5.9B | $3.5B | 4.2x | 3.9x | 7.1x | 8.3x | |||
| $7B | $2.4B | 3.2x | 3.2x | 9.6x | 9.1x | |||
| $8.8B | $998M | 2.9x | 2.7x | 25.3x | 15.7x | |||
| $15B | $3B | 1.7x | 1.6x | 9.0x | 11.8x | |||
| $98B | $7.1B | 0.1x | 0.1x | 1.4x | 2.0x | |||
| $12B | $3.7B | 1.6x | 1.4x | 4.9x | 4.0x | |||
This data is available for Pro users. Sign up to see all Zipline competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Zipline
| When was Zipline founded? | Zipline was founded in 2014. |
| Where is Zipline headquartered? | Zipline is headquartered in South San Francisco, United States. |
| Is Zipline publicly listed? | No, Zipline is a private, VC-backed company. |
| What is Zipline's valuation? | Zipline was last valued at $22B in its strategic investment round in August 2026. |
| How much funding has Zipline raised? | Zipline has raised $3.5B across 10 funding rounds. |
| What was Zipline's last funding round? | Zipline's last funding round was a $1.5B strategic investment round in August 2026, led by Uber. |
| Who are Zipline's investors? | Zipline's investors include Baillie Gifford, Katalyst Ventures, Fidelity, Temasek, GV, Visionnaire Ventures, Sequoia Capital, Tiger Global, Valor Equity Partners, Grishin Robotics and 23 others. |
| Which companies are comparable to Zipline? | Companies comparable to Zipline include SAIC Motor, Applied Intuition, XPENG, Wayve, Aurora Innovation and Anduril. |
See companies similar to Zipline
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.