Drone Delivery Startup Poised to Expand U.S. Operations With New Funding

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Israeli drone delivery start-up Flytrex says it has raised $8 million to help fund the expansion of its U.S. operations, bringing its total fundraising to date to more than $20 million. Flytrex founder and CEO Yariv Bash said on Monday that the latest funding is part of a larger round he plans to close later this year. Most of this $8 million comes from previous backers, including Palo Alto-based Benhamou Global Ventures and European venture fund Btov.

“We’re getting ready for when we have nationwide approval for drone deliveries,” said Bash. “That's going to be both crazy and amazing.”