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The California drone firm Matternet, which calls itself an autonomous aerial logistics technology company, today said it has raised $33 million and taken the company public.
Matternet said it intends to use the proceeds to launch its next-generation drone delivery platform and expand commercial operations across food, retail, and healthcare.
The deal was structured as a “go-public reverse merger transaction” with Los Altos Ventures Corp., which has been renamed Matternet, Inc. and will continue the historic business of Matternet. It was financed by new investors, including Ed Eisler of EE Holdings and Mark Tompkins of Montrose Capital Partners, as well as several existing investors.
“Drone delivery is a magical way to move things from A to B. Instead of sending a two-ton car across town to deliver a meal or retail item, a small, electric, autonomous aircraft can move it through the air faster, more efficiently, and at lower cost,” Matternet’s founder and CEO, Andreas Raptopoulos, said in a release.
“As we enter the era of physical AI, we believe 2026 is the inflection point for drone delivery in the United States,” Raptopoulos said. “With recent regulatory advances and growing enterprise adoption, we believe the category is entering a phase of exponential growth. With this financing, we are accelerating the development and deployment of our next-generation drone delivery platform to power instant, autonomous delivery for restaurant, retail and healthcare leaders.”