Zipline raises $1.5B at $21.5B valuation to test drone delivery at scale

Zipline has raised $1.5 billion and reached a $21.5 billion valuation, nearly tripling its $7.6 billion valuation in January. Paradigm, WCM Investment Management and Layer Global led the round, joined by investors including Fidelity, Uber and J.P. Morgan. The drone-delivery company intends to expand U.S. manufacturing, add workers and grow its network. Walmart, which currently runs 21 drone-delivery sites with Zipline, plans to add 300 sites; Zipline says it has completed more than one million deliveries in the Dallas–Fort Worth region and 150 million autonomous commercial miles this year.