Future Of British Business
BT to Take Stake in Drone Superhighway Pioneer
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BT Group Plc plans to take a stake in drone startup Altitude Angel Ltd. as part of an agreement to invest in the developer of a proposed aerial superhighway linking key UK logistics hubs.
BT will provide Altitude Angel with £5 million of financing in return for a stake in the business as part of a series B fundraising, with the telephony giant taking a seat on the smaller firm’s advisory board, the companies said Wednesday.