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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Neimeth Pharmaceuticals to raise US$13m additional equity for execution of key strategies

NIGERIA – The Board of Directors of Neimeth Pharmaceuticals, a company that is into manufacturing and marketing of pharmaceuticals and animal health products, has revealed plans to raise N5 billion (US$13.11m) in additional equity upon approval by shareholders of the company, reports Nairametrics. The fund will help the company’s management to execute key strategies that will reposition the company as a leader in the healthcare industry, with the hope to deliver better returns on investment to shareholders. The additional equity financing will also increase Neimeth’s outstanding shares, which will dilute…

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