Drone delivery company Zipline raises US$250m for expansion

RWANDA – Zipline, arguably the world’s largest drone delivery service for medical supplies which was founded in Rwanda has raised US$250 million in new equity financing, bringing the company’s valuation to US$2.75 billion. The new financing will enable Zipline to continue advancing its integrated service, including its autonomy platform, aircraft, fulfilment systems, and operations. According to the firm, they will use the funding to further expand their logistics networks in Africa and the United States and also use the funding w to build out infrastructure for new service contracts for four new…

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Equity fund managers AIIM successfully completes US$80m capital increase for its fund

AFRICA – African Infrastructure Investment Managers (AIIM), Africa infrastructure-focused private equity fund managers, has successfully completed a capital increase of US$80 million for its flagship pan-African infrastructure fund, AIIF3. The capital increase takes the total commitments for AIIF3 to US$400 million and represents one of the largest capital raises closed for an African fund since the advent of the COVID-19 pandemic. AIIF3 was established to continue the mandate and strategy developed for AIIM’s AIIF2 fund by targeting infrastructure investments in the power, transport, digital infrastructure and midstream energy sectors across…

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